TranS1 Inc. Announces Distribution Agreement In China
WILMINGTON, N.C., Oct. 10, 2012 (GLOBE NEWSWIRE) -- TranS1 Inc. (Nasdaq:TSON), a medical device company focused on designing, developing and marketing products to treat degenerative conditions of the spine affecting the lower lumbar region, announced today the signing of a distribution agreement with Beijing Jiade Sunshine ("Jiade").
The distribution agreement covers the sale of AxiaLIF® products in China with the exception of Hong Kong, Macau and Taiwan. The Company's AxiaLIF implants were granted a registration certificate by the State Food and Drug Administration (SFDA) and the remaining instrumentation is expected to receive their respective registration in the fourth quarter of 2012.
"We look forward to working closely with Jiade in the successful launch of our AxiaLIF products in China. The knowledge gained in the 13,000 AxiaLIF cases completed in the U.S. and Europe combined with our strong focus on surgeon training will help to drive success in China," said Ken Reali, President and CEO of TranS1. "The Chinese spinal fusion market is large and growing and we believe the minimally invasive AxiaLIF lower lumbar fusion system will represent an attractive option for surgeons and their patients.""We are delighted to enter a long term partnership with TranS1 to offer such an innovative technology as AxiaLIF to spine surgeons and patients throughout China," said Ming Ming Tian, President of Jiade. "Minimally Invasive Spine Surgery (MISS) is rapidly expanding in China, and our vast, spine experienced, national distribution network is well positioned to advance adoption of this unique, but tested, MISS technology to present to their surgeons." About TranS1 Inc. TranS1 is a medical device company focused on designing, developing and marketing products to treat degenerative conditions of the spine affecting the lower lumbar region. TranS1 currently markets the AxiaLIF® family of products for single and two level lumbar fusion, the VEO TM lateral access and interbody fusion system, and the Vectre TM and Avatar TM posterior fixation systems for lumbar fixation supplemental to AxiaLIF fusion. TranS1 was founded in May 2000 and is headquartered in Wilmington, North Carolina. For more information, visit www.trans1.com . About Beijing Jiade Sunshine Beijing Jiade Sunshine, a joint-stock enterprise, is a national distribution company in The People's Republic of China. Jiade currently markets implants and other operating room products to spine and orthopedic surgeons. Jiade has made investments in developing experienced surgical marketing, professional sales and academic training teams throughout the Chinese market. Jiade was founded in March 2007.
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