BEDFORD, Mass. -- (BUSINESS WIRE) -- Anika Therapeutics, Inc. (Nasdaq: ANIK) today announced that it has entered into a new agreement with Medline Industries, Inc. to commercialize the Company’s advanced wound care product - Hyalomatrix®, in the United States on an exclusive basis through 2019. According to the agreement, Anika will receive product payment and royalty revenues from the sale of the product by Medline. Hyalomatrix® is a biologically-derived matrix for in-growing cells, and has the U.S. Food and Drug Administration marketing clearance.
Medline is the largest privately held manufacturer and distributor of healthcare products and services in the United States, and has more than 1,200 dedicated sales representatives to support its broad product line. With an extensive team of clinical consultants and product experts, Medline is at the forefront of providing comprehensive wound care solutions to healthcare providers across the continuum of care.
“The commercialization of Hyalomatrix® by Medline in the United States is an important milestone achievement in our efforts to expand Anika’s advanced wound care product franchise,” said President and CEO Charles Sherwood. “We have been focused on expanding our marketing footprint of Hyalomatrix® in Europe and building our Hyalomatrix® distribution network in South America. We are enthusiastic to have a strategic partner with a strong reputation in wound care and complementary products launching Hyalomatrix® in this significant geographic market.”
About Anika Therapeutics, Inc.
Headquartered in Bedford, Mass., Anika Therapeutics, Inc. develops, manufactures and commercializes therapeutic products for tissue protection, healing, and repair. These products are based on hyaluronic acid (HA), a naturally occurring, biocompatible polymer found throughout the body. Anika's products range from orthopedic/joint health solutions led by Orthovisc® and Monovisc®, treatments for osteoarthritis of the knee, to surgical aids in the anti-adhesion and ophthalmic fields. The Company also offers aesthetic dermal fillers for the correction of facial wrinkles. Anika's Italian subsidiary, Anika Therapeutics S.r.l., provides complementary HA products in orthopedic/joint health and anti-adhesion, as well as therapeutics in areas such as advanced wound treatment and ear, nose and throat care. Its regenerative technology advances Anika's vision to offer therapeutic products and medical solutions that go beyond pain relief to protect and restore damaged tissue.
The statements made in this press release which are not statements of historical fact are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, those relating to (i) the Company's U.S. commercial partnership agreement for Hyalomatrix® with Medline Industries; and (ii) the Company and/or its partners’ abilities to expand advance wound care franchise sales in the U.S. and internationally. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks, uncertainties and other factors. The Company's actual results could differ materially from any anticipated future results, performance or achievements described in the forward-looking statements as a result of a number of factors including: (i) the Company's ability to successfully commence and/or complete clinical trials of its products on a timely basis or at all, obtain pre-clinical or clinical data to support domestic and international pre-market approval applications or 510(k) applications, or timely file and receive FDA or other regulatory approvals or clearances of its products, or that such approvals will not be obtained in a timely manner or without the need for additional clinical trials, other testing or regulatory submissions, as applicable; (ii) the Company's research and product development efforts and their relative success, including whether the Company has any meaningful sales of any new products resulting from such efforts; (iii) the cost effectiveness and efficiency of our clinical studies, manufacturing operations and production planning; (iv) the strength of the economies in which the Company operates or will be operating, as well as the political stability of any of those geographic areas; (v) future determinations by the Company to allocate resources to products and in directions not presently contemplated; (vi) the Company’s ability to successfully launch Hyalomatrix® and Monovisc® in the U.S.; (vii) the Company’s ability to provide an adequate and timely supply of its products to its customers; (viii) our ability to continue to successfully manage Anika S.r.l.’s business; and (ix) the Company’s ability to achieve its growth targets. Certain other factors that might cause the Company's actual results to differ materially from those in the forward-looking statements include those set forth under the headings "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, as well as those described in the Company's other press releases and SEC filings.