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Advanced Medical Solutions Group PLC on Monday said it has sealed an agreement with Pennsylvania-based medical technology designer and developer, Tela Bio Inc, to commercialise its LiquibandFix8 device in the US. The Winsford, England-based surgical dressings company said its under the terms of the deal, its LiquibandFix8 device, which is used for the surgical repair of inguinal and ventral incisional hernias, will be marketed and distributed by Tela under the brand name Liquifix across the US. It will be officially launched at the American Hernia Society annual meeting, which takes place later this week. ‘This represents a significant commercial opportunity for AMS and Tela Bio as they enter a new addressable market estimated at $200 million,’ the UK company commented. ‘The signing of this agreement concludes a comprehensive selection process involving a number of potential partners with a broad range of strengths and marketing strategies.’ LiquibandFix8 is already marketed in Europe, as well as other non-US territories. AMS Chief Executive Officer Chris Meredith said: ‘The launch of Liquifix is a significant milestone and commercial opportunity for AMS and we are very pleased to be working with a US partner that shares our vision and commitment to the benefits that the product can provide. In this respect we believe that both companies are strongly aligned and we look forward to a long and successful partnership together, starting with the preparations for the launch in [the fourth quarter] of this year.’ Shares in AMS were trading 1.8% higher at 184.81 pence each in London on Monday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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