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2019-07-08Medeon Led and Completed Investments in Panther Orthopedics and Prodeon

Medeon Led and Completed Investments in Panther Orthopedics and Prodeon

Medeon Led and Completed Investments in Panther Orthopedics and Prodeon

TAIPEI, July 8th, 2019 – Medeon Biodesign, Inc. (TPEx: 6499), a Taiwan publicly traded medical device company, is pleased to announce that it recently led and closed two investments, in Panther Orthopedics and Prodeon. Panther Orthopedics is a Silicon Valley startup company pioneering innovative dynamic fixation solutions for orthopedic extremity applications. Prodeon is a Taiwan-based company offering a simple, office-based treatment option for patients who are seeking immediate relief from lower urinary tract symptoms (LUTS) caused by Benign Prostatic Hyperplasia (BPH).

Panther Orthopedics’ U.S. Food and Drug Administration 510(k) cleared PUMA System (TM) is a revolutionary advancement in the treatment of orthopedic injuries that provides the benefits of screws and flexible fixation devices but without their short comings. The spring-like design of the PUMA Body provides initial and continuous compression without the need to overtighten. The PUMA System (TM) has been commercially available since November 2018, and continues to accumulate outstanding clinical experiences.

Prodeon’s investigational device, the XFLO (TM) Expander System, addresses the significant unmet clinical need for treating patients living with BPH and LUTS. Demographics show that about 50% of men aged 50 years and above experience LUTS attributable to BPH, and in men over 80 years old, the incidence rises to over 80%, representing over 71 million actively managed patients worldwide. Drugs and conventional surgical treatments are associated with side effects and complications, including compromised sexual function, bleeding, infections, and long recovery times. Recently, less invasive BPH treatment options with significant clinical advantages are actively and significantly expanding the underpenetrated BPH market. XFLO (TM) is a novel, minimally-invasive, and office-based treatment that provides a simple and less invasive option over conventional surgery or drugs for resolving BPH symptoms. The XFLO (TM) Expander System successfully completed its first clinical use in Australia and the Republic of Georgia.

“Medeon has built an innovation platform that partners with physicians and entrepreneurs to solve unmet medical needs, by bringing innovative ideas from concept to commercialization. With both the resources to fund projects and the capabilities to execute them, this platform combines the strengths of a traditional medtech venture capital firm and those of a medtech development firm. The two recent investments, in Panther Orthopedics and Prodeon, are perfect examples of executing this unique business model with a combination of funding, development expertise, manufacturing capabilities, and industry relations to accelerate medtech development,” said Dr. Yue-Teh Jang, Chairman and CEO of Medeon.

About Medeon Biodesign

Medeon Biodesign (TPEx: 6499) is a publicly traded company located in Taipei, Taiwan, and currently listed on Taipei Exchange. The company focuses on the development of medical devices for minimally invasive surgeries to treat diseases of sizable patient population, such as cardiovascular, peripheral vascular, orthopedic, neurosurgery, obesity, gastroenterology, hematology, nephrology, gynecology, urology, and plastic surgery. For more information, please visit www.medeonbio.com/en.

Contacts

Medeon Biodesign:

Dr. Jenny Chen

TEL: +886.2.2881.6686

Email: IR@medeonbio.com

2019-06-27Panther Orthopedics Announces Successful Closing of Financing and Expanded Clinical Use of the PUMA System (TM)

Panther Orthopedics Announces Successful Closing of Financing and Expanded Clinical Use of the PUMA System (TM)

Panther Orthopedics Announces Successful Closing of Financing and Expanded Clinical Use of the PUMA System (TM)

Sunnyvale, California, June 27, 2019 – Panther Orthopedics, Inc., a pioneer developing innovative dynamic fixation solutions for orthopedic extremity applications, is pleased to announce the successful closing of its Series B financing led by Medeon Biodesign and expanded clinical use of its PUMA System (TM).

 

The PUMA System (TM) obtained U.S. Food and Drug Administration 510(k) approval in early 2018, and was commercially launched in November 2018 in the United States. Through the clinical cases, it has demonstrated tremendous clinical benefits over conventional screws and flexible fixation devices without their shortcomings. The novel spring-like design of the PUMA body provides initial and continuous compression without the need to overtighten.

“Panther Orthopedics offers a novel “dynamic fixation” solution to the significant market by providing continuous compression without creep during the healing phase while allowing for physiological micro-motion. With the outstanding initial clinical experiences and additional financing backing, Panther Orthopedics can now continue to expand the clinical and commercial operations. We are exciting to observe more and more patients benefitting from this innovative flexible fixation device” said Kathy Stecco, M.D., CEO and co-founder of Panther Orthopedics.

“The novel PUMA System (TM) brings a technology to address current shortcomings in syndesmotic fixation. Nitinol use in foot and ankle surgery has exploded in recent years, demonstrating that its use is becoming more understood by surgeons. Thus, this fixation technique provides what we need – ease of use, maintenance of reduction, and dynamic fixation without creep. This fixation mimics more of the natural biomechanics of the ankle. We believe this will lead to better ankle function and clinical outcomes” Said J. Kent Ellington, M.D., Orthopedic Surgeon, OrthoCarolina Foot and Ankle Institute.

“Around one million fracture fixation procedures are performed in the United States every year, and the number of procedures continues to grow, primarily due to an aging, obese population and lifestyle influences. As the lead Series B investor of Panther Orthopedics, Medeon will continue to provide resources – not only funding, but also development expertise, manufacturing capabilities, and industry connections to accelerate their development to serve this significant and growing market” said Dr. Yue-Teh Jang, Chairman and CEO of Medeon Biodesign.

About Panther Orthopedics

Panther Orthopedics, Inc., based in Sunnyvale, California, USA is developing next level dynamic fixation solutions for orthopedic trauma and sports medicine applications. Its first product, the PUMA System (TM), is currently indicated for Syndesmosis Fixation, Hallux Valgus Reconstruction, and Tarsometatarsal Fixation.

About Medeon Biodesign

Medeon Biodesign (TPEx: 6499) is a publicly traded company located in Taipei, Taiwan, and currently listed on Taipei Exchange. The company focuses on the development of medical devices for minimally invasive surgeries to treat diseases of sizable patient population, such as cardiovascular, peripheral vascular, orthopedic, neurosurgery, obesity, gastroenterology, hematology, nephrology, gynecology, urology, and plastic surgery. For more information, please visit www.medeonbio.com/en.

Contacts

Panther Orthopedics:

Kathy Stecco, M.D.

TEL: +1-669-247-6985

Email: info@pantherortho.com

Medeon Biodesign:

Jenny Chen, Ph.D.

TEL: +886-2-2881-6686

Email: IR@medeonbio.com