Treace Medical Expands Market Leading Global IP Portfolio For Bunion And Related Deformities

Rhea-AI Summary

Treace Medical Concepts, Inc. (TMCI) has announced significant progress in its intellectual property portfolio, with 15 new patent applications filed and 7 utility patents granted in 2023. The granted patents cover innovative systems and methods for treating bunions, enhancing TMCI's position in the medical technology field. The company's total includes 58 granted patents globally and 84 pending applications, reflecting a commitment to advancing surgical management for bunions. CEO John T. Treace emphasized the importance of these innovations in improving patient care and the protection of proprietary technology.

Positive

• Filed 15 new United States patent applications in 2023.
• Secured 7 new utility patents, increasing competitive advantage.
• Total of 58 granted patents and 84 pending applications enhances market position.

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• None.

PONTE VEDRA, Fla., April 19, 2023 (GLOBE NEWSWIRE) -- Treace Medical Concepts, Inc. (“Treace” 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 the continuing rapid growth of its global patent portfolio.

In 2023, Treace has filed 15 new United States patent applications and the United States Patent and Trademark Office (USPTO) has granted to the Company 7 utility patents. These granted patents are U.S. Patent Nos. 11,627,954, 11,622,797, 11,602,386, 11,602,387, 11,607,250, 11,596,443, and 11,583,323, relating to novel systems, devices, and methods for performing instrumented surgery for bunions and related deformities.

Treace now has a global IP portfolio of 58 granted patents, including 47 in the U.S., and 84 pending patent applications. Additional details on Treace’s patent coverage can be found at www.treace.com/patents.

“We are pleased that patent offices around the world continue to recognize the novel innovations made by our Company,” said John T. Treace, CEO, Founder and Board Member of Treace. “Since we filed our first patents in 2014, we have continued to develop our product line and build upon our comprehensive intellectual property assets spanning the spectrum of multi-planar bunion correction.”

“Our intellectual property is a critical component in advancing patient care.” Mr. Treace added. “We have also secured trademarks and copyrights to protect our market leading brand. We remain committed to protecting and defending our proprietary technology and intellectual property, which drives our ability to innovate solutions that benefit patients.”

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 and related midfoot deformities. 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 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 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 recent patent activity has Treace Medical Concepts (TMCI) reported in 2023?

Treace Medical Concepts filed 15 new patent applications and received 7 utility patents in 2023.

How many total patents does Treace Medical Concepts currently have?

Treace Medical Concepts has a total of 58 granted patents and 84 pending applications.

What is the significance of Treace's patent portfolio growth for investors?

The growth of Treace's patent portfolio indicates strong innovation and potential for market leadership, which could positively influence investor confidence.

Who is the CEO of Treace Medical Concepts and what did he say about the patent grants?

CEO John T. Treace expressed satisfaction with the recognition of the company's innovations by patent offices and emphasized their importance in patient care.