Bioretec Ltd., a Finnish medical device company focused on development, manufacturing and sales of bioresorbable and bioactive surgical implants for orthopedic and trauma care, has completed an acquisition of all outstanding shares of BRI.Tech GmbH located in Graz, Austria.
BRI.Tech has successfully developed and patented a novel biocompatible and bioresorbable metal composition. Products manufactured from this novel composition are currently under testing in first human clinical studies. This novel bioresorbable metal composition has been proven to have superior material properties over the first generation bioresorbable metal compositions during development and pre-clincal steps.
"I am excited to welcome the experienced team of BRI.Tech to join our Bioretec group. This is again one important step in our selected strategy to become the world’s only company having know-how, experience, manufacturing and commercialization capabilities from all of the most innovative fully resorbable materials available in the world. We have a long history of manufacturing and commercilalization our patented self-reinforced biopolymer product platform, we have on-going projects to include also fiber-reinforced biopolymer composites into our product offering and now through this acquisition we will be adding another novel material option, resorbable metals, into our product portfolio", says Tomi Numminen, Executive Chairman of the Board of Directors of Bioretec.
"Bioretec is recognized as one of the pioneers in the field of resorbable orthopaedic implants. For us this transaction with Bioretec represents an excellent opportunity to continue our efforts in bringing our novel resorbable metal products into the markets. Bioretec has a long and proven history being able to develop, register and commercialize innovative products into the field of orthopaedic products. I am confident that by joining Bioretec group, we will be able to speed up and secure our first product launches and we shall together, in collaboration with our teams, achieve our ambitious targets set", comments Prof. Dr. Annelie Weinberg, founder and majority shareholder of BRI.Tech.
Download: Press release – Bioretec acquires BRI.Tech 2019-04-16 (PDF)
Tampere, Finland, 16th of April 2019