BEDFORD, Mass., Jun 01, 2011 (BUSINESS WIRE) --
Anika Therapeutics, Inc. (Nasdaq: ANIK), a leader in products for tissue protection, healing, and repair, based on hyaluronic acid ("HA") technology, today announced Anika Therapeutics S.r.l., its wholly owned subsidiary, has entered into a new, five-year exclusive U.S. distribution agreement with Misonix, Inc. (Nasdaq: MSON), which will distribute and sell Anika's Hyalomatrix®--an FDA-approved, HA-based skin substitute. One of the numerous products added to the Anika portfolio through its acquisition of Fidia Advanced Biopolymers (now Anika Therapeutics S.r.l.), Hyalomatrix is indicated for treatment of a wide range of acute and chronic wounds.
Anika will manufacture and supply finished product to Misonix, which will be responsible for all aspects of commercialization in the United States. A recognized leader in ultrasonic wound debridement, Misonix has dedicated U.S. sales and marketing organizations in both the clinical and surgical settings where acute and chronic wounds are treated.
"This is a promising new collaboration for Anika," said Charles H. Sherwood, Ph.D., president and chief executive officer. "Misonix will be adding Hyalomatrix to its own proprietary technologies to create a comprehensive and leading-edge protocol for wound management. Given the knowledge of U.S. sales channels for wound care products that Misonix has acquired over the years, this agreement is an important milestone in Anika's entry into the large and growing U.S. market for advanced wound treatment."
About Anika Therapeutics, Inc.
Headquartered in Bedford, Mass., Anika Therapeutics, Inc. develops, manufactures and commercializes therapeutic products for tissue protection, healing, and repair. These products are based on hyaluronic acid (HA), a naturally occurring, biocompatible polymer found throughout the body. Anika's products range from orthopedic/joint health solutions led by Orthovisc®, a treatment for osteoarthritis of the knee, to surgical aids in the ophthalmic and anti-adhesion fields. Anika's Italian subsidiary, Anika S.r.l, provides complementary HA products in orthopedic/joint health and anti-adhesion, as well as therapeutics in new areas such as advanced wound treatment and ear, nose and throat care. Anika S.r.l.'s regenerative tissue technology advances Anika's vision to offer therapeutic products that go beyond pain relief to protect and restore damaged tissue.
The statements made in this press release which are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to those relating to: (i)the Company's U.S. distribution agreement for Hyalomatrix with Misonix, Inc.; and (ii) the potential or this agreement to accelerate the Company's entry into the large and growing U.S. market for advanced wound treatment, including diabetic foot ulcer. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks, uncertainties and other factors. The Company's actual results could differ materially from any anticipated future results, performance or achievements described in the forward-looking statements as a result of a number of factors including: (i) the Company's ability to successfully commence and/or complete clinical trials of its products on a timely basis or at all, obtain clinical data to support a pre-market approval application or timely file and receive FDA or other regulatory approvals or clearances of its products and Bedford facility, or that such approvals will not be obtained in a timely manner or without the need for additional clinical trials, other testing or regulatory submissions, as applicable; (ii) the Company's research and product development efforts and their relative success, including whether the Company has any meaningful sales of any new products resulting from such efforts; (iii) the cost effectiveness and efficiency of our manufacturing operations and production planning; (iv) the strength of the economies in which the Company operates or will be operating, as well as the political stability of any of those geographic areas; (v) future determinations by the Company to allocate resources to products and in directions not presently contemplated, (vi) the Company's ability to launch Monovisc® in the U.S., if at all; (vii) our ability to obtain panel review of Monovisc through an Orthopedic Advisory Panel and the timing and results of such review; and (viii) the Company's ability to successfully resolve the cause of the equipment failure at its Woburn facility and provide an adequate and timely supply of its ophthalmic, Orthovisc and other products to its customers.Certain other factors that might cause the Company's actual results to differ materially from those in the forward-looking statements include those set forth under the headings "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, as well as those described in the Company's other press releases and SEC filings.
SOURCE: Anika Therapeutics
Anika Therapeutics, Inc. Charles H. Sherwood, 781-457-9000 Ph.D., CEO or Kevin W. Quinlan, 781-457-9000 CFO