GlobeNewswire08.21.20
Conformis Inc. completed the second of three milestones pursuant to the License Agreement and Development Agreement with Howmedica Osteonics Corp., a wholly owned subsidiary of Stryker Corporation also known as Stryker Orthopaedics, under which Conformis is developing patient-specific instrumentation (“PSI”) for use in connection with Stryker’s knee implant offerings. The company will receive an additional $3.0 million from Stryker for achieving this milestone.
“We are pleased to announce the achievement of the second project milestone,” said Mark Augusti, president and CEO. “We believe that this project, as well as the long-term distribution agreement under which Conformis will manufacture and supply PSI to Stryker, will create value for our shareholders as we successfully support the increasing demand for efficient outpatient joint replacement.”
“We are pleased to announce the achievement of the second project milestone,” said Mark Augusti, president and CEO. “We believe that this project, as well as the long-term distribution agreement under which Conformis will manufacture and supply PSI to Stryker, will create value for our shareholders as we successfully support the increasing demand for efficient outpatient joint replacement.”