TITAN SPINE CONTINUES SUBSTANTIAL GROWTH WITH 51% SALES INCREASE IN 2015 Accelerated 4Q15 Sales Equates to Annualized Run Rate of $43.1M
MEQUON, Wis., February 16, 2016 – Titan Spine, a medical device surface technology company focused on developing innovative spinal interbody fusion implants, today announced the Company continues to achieve substantial growth, with a 51% increase in sales of its Endoskeleton® interbody fusion devices in 2015 compared to the previous year. The Company has also reported over $33.5 million in worldwide sales in 2015, with sales in the fourth quarter 2015 alone equating to annualized run rate of $43.1 million.
These achievements demonstrate continued substantial growth of the Company and accelerated adoption of its comprehensive, integrated portfolio of titanium interbody fusion devices featuring its unique surface technology.
Steve Cichy, Vice President of Sales of Titan Spine remarked, “Titan Spine exceeded growth expectations in 2015, which is a testament to the efforts of our expanding sales team and the growing adoption of titanium and our specific surface technology for interbody fusion devices. This past year has marked a significant inflection point for our Company, and we look forward to continued success in 2016 as we further differentiate our product offerings with the release of our next-generation nanoLOCK® surface technology, which represents the only FDA-cleared nanotechnology for the spine.”
Kevin Gemas, President of Titan Spine, added, “We also achieved several key milestones that have enabled significant advancement in revenue and community recognition. These include securing FDA clearance of our latest interbody device, the TCS for cervical fusion with integrated fixation; expanding our portfolio offering in Europe through a strategic distribution partnership with MBA thereby further penetrating markets of six EU countries and broadening surgeon adoption; and earning an Orthopedics This Week Spine Technology Award for our enhanced nanoLOCK® surface technology.”
Peter Ullrich, Chief Executive Officer of Titan Spine, also commented, “The considerable progress Titan Spine achieved in 2015 is a reflection of the interbody device market’s accelerating shift toward titanium implants, which is due, at least in part, to our continually expanding science and research. This year, we demonstrated that Titan Spine’s surface-etched titanium implants reduce subsidence compared to PEEK, promote an anti-inflammatory cellular environment compared to PEEK, and show no signs of impaction debris whereas titanium-coated PEEK implants have the potential to generate debris during simulated impaction into the disc space. These data are generating heightened interest and awareness of the downfalls of PEEK, and have been a focus of the spine community at medical meetings and within publications over this past year, notably including our oral podium presentation at ISASS 2015 and publications in Spine and The Spine Journal.”
In addition, Titan Spine provided the following updates:
- 51% increase in sales in 2015 compared to 2014
- Worldwide sales of $33.5M
- Greater than 400 hospital customers worldwide
- Exceeding 110 distributors
- Approximately 10,000 Endoskeleton® implants sold in 2015
- Approximately 44,000 Endoskeleton® implants sold since inception
The full line of Endoskeleton® devices feature Titan Spine’s proprietary implant surface technology, consisting of a unique combination of roughened topographies at the macro, micro, and nano levels (MMN™). This unique combination of surface topographies is designed to create an optimal host-bone response and actively participate in the fusion process by promoting the upregulation of osteogenic and angiogenic factors necessary for bone growth, encouraging natural production of bone morphogenetic proteins (BMPs), downregulating inflammatory factors, and creating the potential for a faster and more robust fusion.1,2,3
About Titan Spine
Titan Spine, LLC is a surface technology company focused on the design and manufacture of interbody fusion devices for the spine. The company is committed to advancing the science of surface engineering to enhance the treatment of various pathologies of the spine that require fusion. Titan Spine, located in Mequon, Wisconsin and Laichingen, Germany, markets a full line of Endoskeleton® interbody devices featuring its proprietary textured surface in the U.S. and portions of Europe through its sales force and a network of independent distributors. To learn more, visit www.titanspine.com.
1Olivares-Navarrete, R., Hyzy, S.L., Slosar, P.J., Schneider, J.M., Schwartz, Z., and Boyan, B.D. (2015). Implant materials generate different peri-implant inflammatory factors: PEEK promotes fibrosis and micro-textured titanium promotes osteogenic factors. Spine, Volume 40, Issue 6, 399–404. 2Olivares-Navarrete, R., Gittens, R.A., Schneider, J.M., Hyzy, S.L., Haithcock, D.A., Ullrich, P.F., Schwartz, Z., Boyan, B.D. (2012). Osteoblasts exhibit a more differentiated phenotype and increased bone morphogenetic production on titanium alloy substrates than poly-ether-ether-ketone. The Spine Journal, 12, 265-272. 3Olivares-Navarrete, R., Hyzy, S.L., Gittens, R.A., Schneider, J.M., Haithcock, D.A., Ullrich, P.F., Slosar, P. J., Schwartz, Z., Boyan, B.D. (2013). Rough titanium alloys regulate osteoblast production of angiogenic factors. The Spine Journal, 13, 1563-1570.
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