CARLSBAD, Calif., Feb. 24, 2022 — Aurora Spine Corporation (“Aurora Spine” or the “Company”) (TSXV: ASG) (OTCQB: ASAPF), a manufacturer of innovative spinal implants announced today that it has entered into a joint co-marketing agreement with Echolight Medical, a manufacturer of the radiation-free EchoS portable densitometer used for patient assessment of bone mineral density (BMD) and the quality of bone microarchitecture independent of BMD.
Aurora is developing and manufacturing DEXA Technology-based Spinal Implants, and Echolight is engaged in the business of bone health assessment without the use of ionizing radiation. The two companies agreed to promote each other’s products as part of the Aurora DEXA Platform to their respective customers and prospects.
This mutual effort allows Aurora to combine Echolight’s bone health assessment capabilities with its proprietary DEXA Technology based patient matched implants and allows Echolight to market and promote Echolight’s devices to determine which of Aurora’s DEXA Technology implants is most appropriate for each patient’s bone quality, normal, osteopenic or osteoporotic.
Trent Northcutt, CEO and President at Aurora Spine said, “Aurora looks forward to working with Echolight and to offer comprehensive bone scanning capabilities with Aurora’s patient-matched DEXA Platform family of spinal implants. This joint effort will provide patients with a one-stop shop for patient matched implants based on quick and accurate real-time bone quality analysis with immediately available reports. We firmly believe that our partnership and shared passion will expand health care access to more people.”
Doug Tefft, President of Echolight stated “”We are pleased to contribute to Aurora’s innovative DEXA Platform. This allows Echolight to provide orthopedic and spinal treatment support in addition to bone health assessment for osteoporosis. Echolight devices are widely used in Europe and have recently been launched in the US. Echolight expects significant clinical impact pairing its portable, radiation free devices in the United States with the only patented and FDA cleared bone quality matched fusion devices,” said Doug Tefft, President of Echolight USA. “It’s a privilege to join forces with the Aurora Team in the spinal and orthopedic fixation field.”
Laszlo Garamszegi, Chief Technology Officer of Aurora Spine added “Both companies received positive feedback from attendees at the 2022 Orthopedic Research Society meeting in Tampa that Aurora’s DEXA Technology and the Echolight REMS Technology work well together and complement each other in the bone quality diagnosis and treatment of patients with spinal conditions that require fusion surgery. We think that our mutual efforts with the Echolight Team will bring new solutions to the marketplace and elevate the standard of care for patients.”
About Echolight
Echolight Medical has developed the first clinically available method for the direct non-ionizing measurement of lumbar and femoral bone mineral density (BMD).
The device, EchoS, utilizes proprietary R.E.M.S. (Radiofrequency Echographic Multi Spectrometry) technology to scan the lumbar vertebrae and proximal femur. The EchoS rapidly generates a medical report that includes BMD, T-score and Z-score. In addition, the system automatically assesses the quality of bone micro architecture, independent of BMD, and provides a five-year probability of a major osteoporosis fracture.
EchoS offers significantly increased levels of accuracy, sensitivity to bone mass changes and diagnostic reproducibility over DXA systems. This, coupled with the absence of ionizing radiation, allows for osteoporosis diagnosis at the point of care more broadly and at an earlier stage. It also enables more accurate monitoring post diagnosis. Learn more about the FDA-cleared EchoS at: www.EcholightMedical.com.
About Aurora Spine
Aurora Spine is focused on bringing new solutions to the spinal implant market through a series of innovative, minimally invasive, regenerative spinal implant technologies. Additional information can be accessed at www.aurora-spine.com or www.aurorapaincare.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurora Spine, including, without limitation, those listed under “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Information” in Aurora Spine’s final prospectus (collectively, “forward-looking information”). Forward-looking information in this news release includes information concerning the proposed use and success of the company’s products in surgical procedures. Aurora Spine cautions investors of Aurora Spine’s securities about important factors that could cause Aurora Spine’s actual results to differ materially from those projected in any forward-looking statements included in this news release. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ unilaterally from those expressed in such forward-looking statements. No assurance can be given that the expectations set out herein will prove to be correct and, accordingly, prospective investors should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this press release and Aurora Spine does not assume any obligation to update or revise them to reflect new events or circumstances.
Contact:
Aurora Spine Corporation
Trent Northcutt
President and Chief Executive Officer
(760) 424-2004
Chad Clouse
Chief Financial Officer
(760) 424-2004
www.aurora-spine.com
Adam Lowensteiner
LYTHAM PARTNERS, LLC
Phoenix | New York
Telephone: 646-829-9700
asapf@lythampartners.com
Echolight contact:
Doug Tefft
President – Echolight Medical USA
(425) 503-4840
dtefft@echolightmedical.com
