Treace Medical Announces Expansion of Its Global IP Portfolio with the Grant of Two New U.S. Patents

Rhea-AI Summary

Treace Medical Concepts (TMCI) announced the grant of U.S. Patent Nos. 11,497,528 and 11,523,845 by the United States Patent and Trademark Office. These patents enhance the company's portfolio on bunion surgery techniques related to its Lapiplasty® 3D Bunion Correction™ system. With a total of 50 granted patents globally, including 40 in the US, Treace Medical continues to protect its innovations. CEO John T. Treace highlighted that these patents enable advancements in bunion patient care and support ongoing investments in innovative solutions.

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• Grant of two new U.S. patents enhances the company's intellectual property portfolio for bunion surgery.
• Total of 50 granted patents globally, demonstrating strong patent protection and innovation.

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• None.

PONTE VEDRA, Fla., Dec. 19, 2022 (GLOBE NEWSWIRE) -- Treace Medical Concepts, Inc. (“Treace Medical” or the “Company”) (NasdaqGS: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of hallux valgus (commonly known as bunions), is pleased to announce that the United States Patent and Trademark Office has granted to the Company U.S. Patent Nos. 11,497,528 and 11,523,845. The two new patents relate to novel methods of performing bunion surgery utilizing a bone positioning device. These patents strategically enhance Treace Medical’s comprehensive patent coverage on instrumented bunion correction techniques. The patents expand on a portfolio stemming from Treace Medical’s pioneering development work in the field, with priority dating back to 2014, and relate to Treace Medical’s Lapiplasty® 3D Bunion Correction™ system.

Treace Medical actively protects its innovations through patenting and is gratified that the United States Patent and Trademark Office and patent agencies worldwide continue to recognize the novelty of Treace Medical’s contributions to the field. The Company has a global portfolio of 50 granted patents, including 40 in the US, and 80 pending patent applications, including over 40 pending US patent applications. Additional details on Treace Medical’s patent coverage can be found at www.treace.com/patents.

“We are pleased that the Patent Office continues to recognize the innovative advances made by Treace Medical by granting these additional patents,” said John T. Treace, CEO, Founder and Board Member of Treace Medical. “Our intellectual property is a critical component in enabling the advancement of bunion patient care and allows Treace Medical to continue investing in solutions that benefit patients,” Mr. Treace added.

About Treace Medical Concepts
Treace Medical Concepts, Inc. is a medical technology company with the goal of advancing the standard of care for the surgical management of bunion deformities and related midfoot correction. Bunions are complex 3-dimensional deformities that originate from an unstable joint in the middle of the foot and affect approximately 65 million Americans, of which Treace estimates 1.1 million are annual surgical candidates. Treace Medical has pioneered and patented the Lapiplasty® 3D Bunion Correction™ system – a combination of instruments, implants, and surgical methods designed to surgically correct all 3 planes of the bunion deformity and secure the unstable joint, addressing the root cause of the bunion and helping patients get back to their active lifestyles. Treace Medical recently expanded its offering with the Adductoplasty™ Midfoot Correction System, designed for reproducible surgical correction of the midfoot to provide further support to hallux valgus patients. For more information, please visit www.treace.com.

Contacts:
Treace Medical Concepts
Mark L. Hair
Chief Financial Officer
mhair@treace.net
(904) 373-5940

Investors:
Gilmartin Group
Lynn Lewis or Vivian Cervantes
IR@treace.net

FAQ

What new patents did Treace Medical Concepts receive?

Treace Medical Concepts received U.S. Patent Nos. 11,497,528 and 11,523,845 related to bunion surgery.

How many patents does Treace Medical currently hold?

Treace Medical holds a total of 50 granted patents globally, including 40 in the US.

What is the significance of the new patents for TMCI shareholders?

The new patents enhance TMCI's market position and intellectual property, potentially leading to increased shareholder value.

What technology is covered by the new patents?

The patents relate to novel methods of performing bunion surgery using a bone positioning device, enhancing the Lapiplasty® 3D Bunion Correction™ system.

Who is the CEO of Treace Medical Concepts?

John T. Treace is the CEO and Founder of Treace Medical Concepts.