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CARLSBAD, Calif., Jan. 3, 2013 (GLOBE NEWSWIRE) -- Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions related to the aging spine, today provided an update related to its product commercialization efforts.
The Company announced that it has recently received 510(k) market clearance from the U.S. Food and Drug Administration (FDA) for two new products in the Company's new product pipeline:
An anchored, anterior cervical interbody device, called Pegasus™, which offers single-step deployment of the anchoring blades without the need for impaction; and,
A new MIS system, called ILLICO® FS Facet Fixation System, which enables spine surgeons to immobilize and stabilize spinal segments without the need for pedicle screw and rod constructs.
Additionally, the Company said that it has received Shonin approval in Japan from the Pharmaceuticals and Medical Devices Agency to market and sell three lines of the Company's Novel PEEK Spinal Spacers, including the Novel SD, the Novel LCC and the Novel TL, which are used in posterior spine fusion procedures. PEEK, or polyetheretherketone, is a radiolucent material containing radiographic markers, which enhance interbody visualization and alignment during the fusion process.
"I am pleased to announce these important new developments related to our new product commercialization strategy at Alphatec Spine," said Les Cross, Chairman and CEO of Alphatec Spine. Our initiatives to strengthen the top-line growth of the Company through robust internal product development, acquisitions and license arrangements, and continued global expansion are gaining momentum. Our new Pegasus anchored cervical interbody device and ILLICO FS system represent key additions to our cervical and MIS offerings in the U.S., respectively.
"In Japan, product registration has been a long and complex process and we are pleased to have achieved that significant milestone for our Novel PEEK Spinal Spacer Systems, complementing the strong sales presence we have already established there."