Investor Relations

<< Back

Press Release

September 18, 2019 at 8:30 AM EDT

Anika Commences U.S. Commercial Launch of TACTOSET Bone Repair Therapy Under Its New U.S. Hybrid Commercial Model

BEDFORD, Mass.--(BUSINESS WIRE)--Sep. 18, 2019-- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global, integrated orthopedic medicines company leveraging its proprietary hyaluronic acid ("HA") technology platform to provide therapies across the Joint Preservation and Restoration continuum of care, today announced it has commenced the U.S. commercial soft launch of TACTOSET, its injectable HA-enhanced bone repair therapy. TACTOSET has been developed for the treatment of bone voids and other bone defects of the skeletal system caused by trauma or age-related degeneration. TACTOSET is Anika’s first product to launch under its U.S.-based hybrid commercial model.

“We are proud to commence the launch of our first surgically-delivered regenerative therapy in the U.S. under our hybrid commercial model with the addition of TACTOSET to our product portfolio,” said Joseph Darling, President and Chief Executive Officer of Anika Therapeutics. “We believe our hybrid commercial model provides us with a direct line of sight into the market, enabling Anika to achieve rapid market penetration with TACTOSET, while avoiding the significant investment associated with building a large direct sales force internally. Additionally, we expect our hybrid model to provide the ability to launch in various phases and to scale where appropriate as we introduce products across multiple categories in the Orthopedic segment. This capability gives our commercial team more precise commercial control, including greater visibility on product demand, end-user activity and fulfillment.”

Approximately 900,000 people could benefit from treatment for bone voids and other bone defects of the skeletal system, which can cause pain and impaired function. This therapy combines calcium phosphate, an established precursor to the mineral component of bone, with Anika’s proprietary hyaluronic acid, which enhances flow and tactile feel during administration, to improve ease of use and procedural efficiency.

“I am very pleased with my TACTOSET surgical experience, due in large part to its unique ease-of-use,” said Dr. John Tierney, President of the Greater Boston Orthopaedic Center, and the first surgeon to utilize the product in a human case. “I believe that other patients and surgeons in the field will realize the benefits of the product, and I look forward to discussing my clinical experience during Anika’s Analyst and Investor Day later this morning.”

Anika will discuss the benefits of this novel therapy and the value of its hybrid commercial strategy at the Company’s Analyst and Investor Day being held today, September 18, 2019.

About TACTOSET

TACTOSET, Anika’s injectable bone repair therapy, is its first surgically-delivered regenerative therapy in the U.S. for bone repair procedures. The therapy is an injectable, HA-enhanced, osteoconductive calcium phosphate bone substitute material, and it is indicated for filling bone voids or defects of the skeletal system (i.e., extremities and pelvis) that are not intrinsic to the stability of bony structure. It is provided in a kit with two components (an aqueous solution in a pre-loaded syringe and a dry powder) that must be mixed intra-operatively using the supplied mixing system to form a cohesive paste prior to administration.

About Anika Therapeutics, Inc.

Anika Therapeutics, Inc.(NASDAQ: ANIK) is a global, integrated orthopedic medicines company based in Bedford, Massachusetts. Anika is committed to improving the lives of patients with degenerative orthopedic diseases and traumatic conditions with clinically meaningful therapies along a broad continuum of care, from palliative pain management to joint preservation and restoration. The Company has over two decades of global expertise developing, manufacturing, and commercializing more than 20 products based on its proprietaryhyaluronic acid (HA) technology platform. Anika's orthopedic portfolio includesORTHOVISC®,MONOVISC®, andCINGAL®, which alleviate pain and restore joint function by replenishing depleted HA, andHYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration. For more information about Anika, please visitwww.anikatherapeutics.com.

Source: Anika Therapeutics, Inc.

For Investor Inquiries:
Anika Therapeutics, Inc.
Sylvia Cheung, 781-457-9000
Chief Financial Officer

For Media Inquiries:
W2O Group
Sonal Vasudev, 917-523-1418
sonal@w2ogroup.com