SeaSpine® Announces Full Commercial Launch of Explorer® TO Expandable Interbody System

Rhea-AI Summary

SeaSpine Holdings Corporation (NASDAQ: SPNE) has announced the commercial launch of the Explorer TO Expandable Interbody System, designed for spinal surgery. This system features two types of implants that expand in height and lordosis, enhancing surgical efficiency. With an addressed market potential exceeding $450 million in the U.S., this product positions SeaSpine competitively in the expandable interbody market. The company aims to develop more systems in the future, addressing various surgical techniques and approaches.

Positive

• Launch of Explorer TO system enhances product portfolio in a critical market segment.
• Estimated market potential of over $450 million in the U.S. for expandable interbody systems.

Negative

• Dependence on the performance of newly launched products amidst limited clinical validation.
• Potential delays in product development and regulatory clearances could impact future launches.

CARLSBAD, Calif., April 28, 2022 (GLOBE NEWSWIRE) -- SeaSpine Holdings Corporation (NASDAQ: SPNE), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced the full commercial launch of the Explorer^® TO (TLIF Oblique) Expandable Interbody System.

The Explorer TO Expandable Interbody System provides an innovative and elegant posterior interbody solution that offers two types of implants — one expanding in height, the other in lordosis — that are compatible with the same instrumentation. Notably, Explorer TO is designed to streamline allograft or autograft delivery post-implantation and expansion.

Explorer TO represents SeaSpine’s first expandable interbody system from the Explorer family. Building off the Company’s foundational Explorer technology, SeaSpine expects to launch additional expandable interbody systems that will accommodate different approaches and techniques in the future and that, collectively, address a market segment that SeaSpine estimates to exceed $450 million in the United States alone.

“As a minimally invasive spine surgeon, I am always looking for an interbody device that minimizes tissue and nerve disruption, while maximizing height restoration,” stated Dr. Azam Basheer of Henry Ford Hospital. “Despite the cage’s slim profile and tapered nose, it offers an immense amount of continuous distraction force to maximize foraminal height and sagittal balance restoration.”

“We designed Explorer TO with both minimally invasive and complex open deformity surgeons in mind, addressing both TLIF and PLIF needs required in profile, robustness, and post-packability,” said Shaeffer Bannigan, Vice President, Product Development. “This new product offering allows SeaSpine to compete in the expandable interbody market in a much more effective and complete manner than we could in the past.”

About SeaSpine

SeaSpine (www.seaspine.com) is a global medical technology company focused on the design, development, and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. SeaSpine’s complete procedural solutions feature its market-leading FLASH™ Navigation, a system designed to improve accuracy of screw placement and provide a cost-effective, rapid, radiation-free solution to surgical navigation, and a comprehensive portfolio of spinal implants and orthobiologics to meet the varying combinations of products that neurosurgeons and orthopedic spine surgeons need to facilitate spinal fusion in degenerative, minimally invasive surgery (MIS), and complex spinal deformity procedures on the lumbar, thoracic and cervical spine. With product development expertise in advanced optics, software, orthobiologic sciences and spinal implants, SeaSpine can offer its surgeon customers a complete solution to meet their patients’ evolving clinical needs. SeaSpine currently markets its products in the United States and in approximately 30 countries worldwide.

Forward-Looking Statements
SeaSpine cautions you that statements included in this news release that are not a description of historical facts are forward-looking statements that are based on the Company’s current expectations and assumptions. Such forward-looking statements include, but are not limited to, statements relating to: SeaSpine’s expectations to launch additional expandable interbody systems that build off the Company’s foundational Explorer technology and that will accommodate different approaches and techniques in the future. Among the factors that could cause or contribute to material differences between the Company’s actual results and the expectations indicated by the forward-looking statements are risks and uncertainties that include, but are not limited to: the ability of newly launched products to perform as designed and intended and to meet the needs of surgeons and patients, including as a result of the lack of substantial clinical validation of products following limited commercial (or “alpha”) launch; unexpected delay, including as a result of developing and supporting the launch of new products, including the fact that newly launched products may require substantial additional development activities, which could introduce further delay, or as a result of obtaining regulatory clearances; and other risks and uncertainties more fully described in the Company’s news releases and periodic filings with the Securities and Exchange Commission. The Company’s public filings with the Securities and Exchange Commission are available at www.sec.gov.

You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date when made. SeaSpine does not intend to revise or update any forward-looking statement set forth in this news release to reflect events or circumstances arising after the date hereof, except as may be required by law.

Investor Relations Contact
Leigh Salvo
(415) 937-5402
ir@seaspine.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6a541670-b33d-494a-bac3-086e1b3f9d6d

FAQ

What is the Explorer TO Expandable Interbody System launched by SeaSpine?

The Explorer TO is a new spinal surgery implant system offering height and lordosis expansion, designed to enhance surgical efficiency.

What is the market potential for SeaSpine's new Explorer TO system?

SeaSpine estimates the market potential for expandable interbody systems to exceed $450 million in the U.S.

How does the Explorer TO system address the needs of spine surgeons?

The system is designed for both minimally invasive and complex open deformity surgeries, catering to TLIF and PLIF needs.

What risks are associated with the launch of new products by SeaSpine?

The success of newly launched products may hinge on their performance and the challenges in obtaining regulatory clearances.

When was the Explorer TO Expandable Interbody System announced?

The system was announced on April 28, 2022.