MEQUON, Wis.--(BUSINESS WIRE)--Titan Spine, a medical device surface technology company focused on developing innovative spinal interbody fusion implants, today announced that it has achieved substantial growth in the first half of 2015, with more than 50% sales revenue growth January 1 through June 30, 2015 compared to the same period in 2014. This growth continues to demonstrate the ongoing rapid surgeon adoption of the Company’s titanium spinal interbody fusion devices featuring its proprietary surface technology.
Kevin Gemas, President of Titan Spine, commented, “The first six months of 2015 have seen the greatest accelerated sales growth and surgeon adoption rate in Titan Spine’s history. Not only is the interbody fusion market gravitating toward titanium, but specifically toward titanium devices like ours that have the necessary surface structure to promote osteogenesis and that is validated with science. As a result, our sales revenue is rapidly accelerating, and most telling is the fact that our surgeon retention rate has soared to approximately 85%. Physicians’ rapid rate of adoption of our Endoskeleton® line of titanium spinal implants, combined with our planned launch of the full line of implants featuring our new nanoLOCK™ surface technology in the fourth quarter of this year, has resulted in the need for additional resources to increase manufacturing. This accelerated growth and market shift toward titanium implants has led to further investment from our current investors in order to meet demand.”
Steve Cichy, Vice President of Sales of Titan Spine, added, “The substantial increase in sales so far this year reflects the spinal community’s growing understanding that early bone growth is a biochemical phenomenon rather than a biomechanical one. The scientific data we continue to generate unanimously points to the fact that our titanium surface technology creates an enhanced bone-forming environment at the critical cellular level whereas PEEK promotes inflammation and fibrosis. And while we are flattered that several of our competitors continue to reference our research to claim equivalence, our studies are specific to our proprietary surface, and any inference that the same osteogenic results can be obtained from their additive surfaces is scientifically invalid. 2015 has been a tipping point thus far for Titan Spine and our proprietary subtractive surface. And the future will only be brighter with the pending launch of our enhanced nanoLOCK™ surface, the only FDA-cleared nanotechnology for the spine.”
In addition, Titan Spine provided the following updates:
- Projected to exceed $32M in sales for 2015
- Projected to implant more than 10,000 devices in 2015
- Increased surgeon retention rate to approximately 85%
- Greater than 330 surgeon customers in Q1 and Q2, 2015
- Exceeding 100 U.S. distributors
- Fully launched Endoskeleton® TL lateral device in Q1, 2015
- Published in Spine award-winning data demonstrating PEEK produces inflammatory environment favoring cell death in Q1, 2015
- Received clearance and launched new TCS® interbody device for cervical fusion with integrated fixation in Q1, 2015
- Presented at ISASS meeting new data demonstrating reduced subsidence of Titan Endoskeleton® titanium interbody fusion implants compared to PEEK in Q1, 2015
- Planning for full commercialization of new nanoLOCK™ surface technology in Q4, 2015
Furthermore, recent reports have shown that over the last few years, smaller orthopedic companies like Titan Spine have collectively posted an average growth of 15%, compared to major companies posting only single-digit growth per year, effectively challenging the major companies and eroding their market share.1
The full line of Endoskeleton® devices will 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.2,3,4
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.
1 Avicenne Medical. Market Report. Implants 2015 conference. Paris, France. June 16, 2015.
2 Olivares-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.
3 Olivares-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.
4 Olivares-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.