AxioMed Announces 15-year Exclusive Worldwide License on Proprietary Viscoelastic Material with the patent holder DSM
Aditya Humad, Acting CFO of AxioMed and Managing Partner of KICVentures, announced modifications of the terms of their previously signed 15-year exclusive license agreement. “This is very exciting for me as it was a mutually recognized opportunity to improve on the terms that make it much more favorable for us to accelerate our strategies to commercialization.”
“As the global leader in biomaterial solutions, we remain very excited about the unique application of our polymer technology in AxioMed’s Viscoelastic Disc Replacement and look forward to the long-term success and partnership for both companies in bringing such a great solution to patients globally” said Robert Brown, VP of Marketing at DSM Biomedical.
Dr. 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.”
Founded in 2001, AxioMed (http://www.axiomed.com) began its journey of exhaustively proving the Freedom® Disc through clinical studies in the USA and Europe, research, development and testing. In 2014, KICVentures recognized the disc’s enormous potential and acquired the company into their healthcare portfolio. AxioMed owns an exclusive viscoelastic material license on its proprietary Freedom Disc technology.
KICVentures (http://kicventures.com/) is an investment company founded in 2005 focused on healthcare and technology and headquartered in Boston. KICVentures is a majority investor with controlling ownership in AxioMed, LLC.
Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competences in life sciences and materials sciences, DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders simultaneously. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 25,000 employees. The company is listed on Euronext Amsterdam. More information can be found at http://www.dsm.com/medical or http://www.dsm.com