NASDAQ Comp.
10.09.2007 11:00:00
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Orthovita in Conjunction with Canaccord Adams will Conduct an Institutional Investors Meeting on Friday, September 14th, in Boston
Orthovita, Inc. (NASDAQ: VITA), a spine and orthopedic biosurgery
company, announced today that it will conduct an institutional investor
meeting in conjunction with Canaccord Adams Inc. on Friday, September
14, 2007 in Boston, MA. Antony Koblish, President and Chief Executive
Officer of Orthovita, Albert J. Pavucek, Jr., Chief Financial Officer,
and several members of Orthovita’s management
team will present at the meeting scheduled from 10:00 a.m. to 2:00 p.m.
Eastern Time, in the Griffin/Robinson Room of The InterContinental
Hotel, 510 Atlantic Avenue, Boston, MA. William J. Plovanic, CFA,
managing director, equity research from Canaccord Adams will be
co-hosting the meeting.
In addition, the meeting will feature guest speaker H. Paul Hatten, Jr.,
M.D., from Indian River Radiology of Vero Beach, Florida, who will give
a presentation entitled "Treatment of
Osteoporotic VCF with CORTOSS®:
Preliminary Results and Biomechanical Considerations from the First
Prospective Trial at a Single Institution”, at
approximately 11:00 a.m. Eastern Time and will cover part of a
prospective randomized controlled study being conducted under an FDA
Investigational Device Exemption (IDE). The study assesses the safety
and efficacy of Orthovita’s CORTOSS compared
to commercially available PMMA bone cements in osteoporotic compression
fractures of the vertebra(e). A total of 256 patients have been enrolled
at 19 sites using a 2:1 randomization with 162 patients assigned to
CORTOSS and 94 patients assigned to PMMA. Dr. Hatten is one of the 19
clinical sites involved in the FDA Investigational Device Exemption
(IDE) study and will cover part of a prospective randomized controlled
study being conducted under an FDA IDE study. At the Indian River
Radiology site, 57 patients have been enrolled; 36 treated using CORTOSS
and 21 treated using PMMA bone cement.
About the Company
Orthovita is a spine and orthopedic biosurgery company with proprietary
biomaterials and biologic technologies for the development and
commercialization of synthetic, biologically active, tissue engineering
products. We develop and market synthetic-based biomaterials products
for use in spine surgery, the repair of fractures and a broad range of
clinical needs in the trauma, joint reconstruction, revision and
extremities markets. Our near-term commercial business is based on our
VITOSS® Bone Graft
Substitute technology platforms, which are designed to address the
non-structural bone graft market by offering synthetic alternatives to
the use of autograft or cadaver-based bone material, and VITAGEL®
Surgical Hemostat, which is an adherent matrix and an impermeable
barrier to blood flow. Our longer-term U.S. clinical development program
is focused on our internally developed CORTOSS®
Bone Augmentation Material technology platform, which is primarily
designed for injections in osteoporotic spines to treat vertebral
compression fractures. We work jointly with Kensey Nash Corporation to
develop and commercialize novel synthetic-based biomaterial products, we
market VITAGEL under a license granted by Angiotech Pharmaceuticals,
Inc., and we continue to pursue similar relationships with other
companies in biomaterials.
Disclosure Notice This press release may contain forward-looking statements regarding
Orthovita’s current expectations of future
events that involve risks and uncertainties, including, without
limitation, the development, regulatory approval, demand and market
acceptance of our products; the development of our sales network; the
adequacy of inventory; our ability to manufacture products; timing of
any submissions to the FDA related to CORTOSS approval; the adequacy of
available resources; and other aspects of our business. Such
statements are based on management’s current
expectations and are subject to a number of substantial risks and
uncertainties that could cause actual results or timeliness to differ
materially from those addressed in the forward-looking statements. Factors
that may cause such a difference are listed from time to time in reports
filed by the Company with the U.S. Securities and Exchange Commission
(SEC), including but not limited to risks described in our most recently
filed Form 10-K under the caption "Risks Factors”. Further information about these and other relevant risks and
uncertainties may be found in Orthovita’s
filings with the SEC, all of which are available from the SEC as well as
other sources. Orthovita undertakes no obligation to publicly update any
forward-looking statements.
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