SAN DIEGO, Calif., July 24, 2014 — KFx Medical Corporation announced that it has entered into a license agreement with DePuy Mitek, LLC (“Mitek”) relating to its patents used in knotless double row rotator cuff repair.
Under the agreement, Mitek and its Johnson & Johnson affiliates will have the right to promote the use of products and techniques for knotless double row rotator cuff repair as claimed in US Patent number 7,585,311 and related patents and applications for the life of those patents. Approximately one-third of more than 400,000 rotator cuff repairs in the United States utilize the technique to achieve an anatomic reattachment of tendon.
Terms of the licensing agreement were not disclosed.
“We are proud to have our innovation recognized by Mitek. Previously we announced our licensing agreement with Smith & Nephew, Inc. for the same patents. I am pleased with the licensing arrangement with these two world leaders and knowing KFx’s valuable double row knotless rotator cuff technology will reach even more patients,” indicated Tate Scott, president and CEO.
About KFx Medical
KFx Medical Corporation was founded in 2003 to develop products for tissue fixation in a variety of orthopedic surgical procedures performed on the shoulder, knee, foot, and ankle. KFx provides simple systems for orthopedic surgeons focused on sports medicine. The company is privately held — Investors include Alloy Ventures, Charter Life Sciences, Arboretum Ventures, Montreux Equity Partners, and MB Venture Partners.
KFx Medical Corporation
President & CEO