SCOTTSDALE, AZ–(Marketwired – June 09, 2016) –
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
Lattice Biologics Ltd. (TSX VENTURE: LBL) (OTCBB: BLVKF) (the “Company”) announced today that it has been selected by a major hospital group in the southwest U.S. as an approved vendor. This decision will add six new hospitals to the list of facilities currently utilizing the Company’s high quality allograft products, creating the potential for a substantial increase in future sales.
These new hospitals will benefit from the breadth of Lattice Biologics’ allografts in a wide variety of applications, such as:
- Enhancing fusion in spine surgery
- Enhancing breast reconstruction post mastectomy for breast cancer patients
- Sports medicine indications, including ACL repair
- Promotion of bone regeneration in foot and ankle surgery
- Promotion of cranial healing following neurosurgery
- Enhancing wound repair in burn victims
- Subchondral bone defect repair in knee and other joint surgeries
“Lattice Biologics is extremely pleased this well respected hospital group has approved our products,” said Lattice Biologics CEO, Guy Cook.
“We feel honored knowing that strong surgeon demand for our best in class allografts was instrumental in this decision. We continue to see strong demand for our products and this key approval, which I referenced in our recent Q2 results earnings call, is expected to substantially strengthen our projected revenues.”
Strong Sales Outlook:
The Company’s products currently reach patients through several main channels, including: surgeon specification, distributor lines, and hospital approvals. Some of Lattice Biologics’ key surgeons are selected to be members of the Company’s Scientific Advisory Board (SAB) to utilize products, participate in pre-clinical trials, and provide expert feedback and user insight.
The hospital group’s pre-approval decision is especially significant as it will allow seven of Lattice Biologics’ current SAB members who operate at the group’s facilities to begin utilizing the Company’s products. Lattice Biologics’ SAB members include surgeons specializing in: plastic surgery and reconstruction, spine surgery, oncology, neurology, sports medicine, foot and ankle surgery, and burn and wound care.
The Company expects that each surgeon could purchase between $1-3 million USD per year in products. As such, the addition of these initial seven surgeons at this hospital group could translate into a significant increase in revenues.
In addition to authorizing existing SAB members to utilize the Company’s allograft products in their procedures, the pre-approval is also meaningful in that it opens the door for all surgeons at these facilities, making greater utilization possible.
Revolutionary High-Throughput Precision Chemotherapy Screening Research:
On April 15th, 2016, the Company announced the commencement of an innovative new cancer screening study with the esteemed Sunnybrook Research Institute (SRI). The goal of the study is to demonstrate the life-saving speed, precision, and reliable treatment analytics produced by high-throughput cancer screening methods, in combination with Lattice Biologics’ unique technology, which is geared to accurately mimic the natural cancer tumor microenvironment.
This study will utilize Lattice Biologics’ proprietary ECM technology to improve breast and ovarian cancer treatment through personalized diagnostics. The technology is revolutionary in its ability to accurately recreate complex tumor microenvironments which allows us to grow biopsies from patients’ own cancer tumors in the laboratory, subject them to multiple anti-cancer agents, and observe the resulting behaviors all while sustaining natural conditions. The process is anticipated to provide a never-before-seen understanding of how individual patients’ tumors respond to specific treatments, allowing physicians to prescribe anti-cancer treatments with new accuracy.
Lattice Biologics is currently offering this unparalleled trial diagnostic service free of cost to a limited number of surgeons using the Company’s AdMatrix ADM Dermal Scaffold allografts for post-mastectomy breast reconstruction surgeries. As such, the Company’s SAB members and additional surgeons at this hospital group will be able to qualify for eligibility to receive zero-cost access to what we hope will be the fastest and most clinically predictive cancer diagnostic.
“With the announcement of this new approval, we are able to begin gathering more clinical data on our unique processing methods as well as the precision cancer diagnostic tool,” said Guy Cook.
Learn more about Lattice Biologics Products:
http://www.latticebiologics.com/products/
Read more about the Cancer Diagnostic Study with SRI:
http://www.latticebiologics.com/lattice-biologics-offering-exclusive-access-chemotherapy-screening-for-breast-cancer/
Lattice Biologics Ltd.
Guy Cook,
Chief Executive Officer
Telephone No: (480) 563-0800
About Lattice Biologics Ltd.:
Lattice Biologics recently completed its RTO, becoming a publically traded company on January 4, 2016 and is traded on the TSX-V under the symbol: LBL. The Company is an emerging personalized/precision medicine leader in the field of cellular therapies and tissue engineering, with a focus on bone, skin, and cartilage regeneration.
Lattice Biologics develops and manufactures biologic products to domestic and international markets. Lattice’s products are used in a variety of surgical applications.
Lattice Biologics maintains its headquarters, laboratory and manufacturing facilities in Scottsdale, Arizona as well as offices in Toronto Ontario. The facility includes ISO Class 1000 and ISO Class 100 clean rooms, and specialized equipment capable of crafting traditional allografts and precision specialty allografts for various clinical applications. The Lattice Biologics team includes highly trained tissue bank specialists, surgical technicians, certified sterile processing and distribution technicians, and CNC operators who maintain the highest standards of aseptic technique throughout each step of the manufacturing process. From donor acceptance to the final packaging and distribution of finished allografts, Lattice is committed to maintaining the highest standards of allograft quality, innovation, and customer satisfaction.
Lattice Biologics maintains all necessary licensures to process and sell its tissue engineered products within the U.S. and internationally. This includes Certificates to Foreign Governments from the U.S. Food and Drug Administration (FDA) and registrations for 29 countries, which allow the export of bone, tendon, meniscus, ligament, soft tissue, and cartilage products outside of the U.S.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information
Certain information contained in this news release constitutes ‘forward-looking statements’ within the meaning of the ‘safe harbour’ provisions of Canadian securities laws. All statements herein, other than statements of historical fact, are to be considered forward looking. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “potential”, “future”, “expected”, “could”, “possible”, “goal”, “intends”, “will” or similar expressions identify forward-looking statements. Forward-looking statements in this news release include, without limitation: information pertaining to the Company’s strategy, plans, or future financial performance, such as statements with respect to future sales or revenues, expected outcomes with respect to the Company’s research studies, and other statements that express management’s expectations or estimates of future performance. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lattice to be materially different from those expressed or implied by such forward-looking statements.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management as of the date such statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The factors and assumptions that could prove to be incorrect, include, but are not limited to: that market prices will be consistent with expectations, the continued availability of capital and financing, and that general economic, market and business conditions will be consistent with expectations. The forward-looking statements are not guarantees of future performance. We disclaim any obligation to update or revise any forward-looking statements, except as required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
United States Advisory: The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the U.S. Securities Act) unless an exemption from the registration requirements of the U.S. Securities Act is available. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.
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Media Contact:
Melanie Battista
Public Relations
Lattice Biologics Ltd.
(TSX VENTURE: LBL) (OTCBB: BLVKF)
16701 N 90th Street, Suite#101
Scottsdale, AZ 85260
480-563-0800 Office
[email protected]
www.LatticeBiologics.com
