AxioMed have agreed a 15-year exclusive global license with DSM to use its proprietary viscoelastic material in the company’s disc replacement technology.
Kingsley R Chin, managing partner of KICVentures and a board-certified spine surgeon believes this material will be revolutionary for other spinal applications such as facet replacement and for correcting scoliosis. “DSM Biomedical affirmed their trust in our team when they gave us a 15-year exclusive in spine when larger competitors have deeper pockets.”
Aditya Humad, acting chief financial officer of AxioMed and managing partner of KICVentures, announced modifications of the terms of their previously signed license agreement. “This is very exciting for me as it was a mutually recognised opportunity to improve on the terms that make it much more favourable for us to accelerate our strategies to commercialisation.”