Bioventus entered into a multi-year agreement with Institut Biochimique SA, a Swiss pharmaceutical company, for exclusive distribution rights in the United States to the GELSYN-3.
Here are five key notes on the agreement:
1. The GELSYN-3 is a three-injection, hyaluronic acid product for pain relieve in osteoarthritis patients.
2. The system is indicated for use in patients with knee osteoarthritis and designed for patients to have a more active lifestyle and potentially delay total knee replacement.
3. Financial terms of the agreement weren't disclosed.
4. Hyaluronic acid products are used to lubricate and cushion joints and relieve arthritis pain. Patients can use GELSYN-3 to relieve pain up to 26 weeks.
5. The product has FDA clearance, earned in 2014, and Bioventus plans to launch the GELSYN-3 on the U.S. market in the third quarter of this year.