Compiled by Don Rosato
Abstract: bioplastics, Inion Ltd. biodegradable, biodegradable materials, biodegradable
processing, biodegradable clinical applications medical implants, metal replacement,
orthopedic, fixation devices, pins, plates, screws, cranio-maxillofacial, skull,
jaw, orthopedic trauma, fractures, sports medicine, dental implants, Stryker Corporation,
bioactive, biodegradable device, bone healing, cruciate ligament, knee repairs,
ankle fixation, shoulder, shoulder ligament, shoulder ligament injuries
Ltd. is a rapidly growing company focused on the development of novel biodegradable
medical implants. The firm was founded in Tampere, Finland by a team of international
experts in biodegradable materials, processing and related clinical applications.
The company operates from a state-of-the-art production and research facility
in Tampere, Finland and has an Americas corporate office in Oklahoma City, Oklahoma.
medical implants compete directly with traditional metal devices, and the change
to biodegradables is a growing trend in this market sector. Inion produces 11
different product ranges of biodegradable orthopedic fixation devices such as
pins, plates, and screws that are marketed to four specific therapeutic areas:
biodegradable cranio-maxillofacial (skull and jaw), orthopedic trauma (treatment
of fractures), sports medicine devices, and dental implants. Branded Inion products
are sold in more than 35 countries across four continents. The company markets
globally through a network of partners like Stryker Corporation (North America,
Western Europe), distributors in other parts of the world, and a specialized direct
sales force. The company has grown more than 75% per year in the past two years
and believes that it can maintain such a growth rate based on increasing demand
for current Inion products and new products that the company has in the pipeline
at this moment.
Orthopedic trauma, the largest of the four
areas is a $1.7 billion market, with the plates, screws and pins portion valued
at $680 million. The second biggest market in which Inion operates is the maxillofacial
market, worth $430 million annually. The two other markets where the company has
products are sports medicine, $250 million, and dental, about $700 million. These
two sectors are of particular interest to Inion as biodegradables have already
achieved significant penetration here. For example, 50% of all cruciate ligament
(knee) repairs in the U.S. are undertaken using biodegradable implants. The market
values in these two areas that are open to Inion are approximately $150 million
Inion's goals are to become a leader in the growing
biodegradable implant market and capture 10% of the orthopedic trauma market.
The company has raised $70 million in capital through a successful IPO offering
on London's Main Market. The funds will support sales growth of existing and new
products and will also allow Inion to further develop their 'third generation'
bioactive and biodegradable device technology based on accelerated bone healing
through R&D/clinical trials, and expansion of manufacturing capabilities.
In preclinical trials incorporating a small bioactive molecule into an existing
Inion implant, bone healing rates were increased by up to 50%. In new areas the
company recently launched a spinal product and also plans to launch a new sports
medicine product for serious shoulder ligament injuries.
Biodegradable ankle fixation system