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November 13, 2007 FOR IMMEDIATE RELEASE DEPUY SPINE AND JOHNSON & JOHNSON DEVELOPMENT CORP INVEST $5M IN BIOMERIX CORP TO DEVELOP NOVEL ANNULAR IMPLANT FOR LUMBAR DISCECTOMY RAYNHAM, MA, November 13, 2007 - DePuy Spine, Inc., in partnership with Johnson & Johnson Development Corporation (JJDC), today announced that they will provide $5 million in Series C equity financing to Biomerix Corporation, a medical technology company developing novel devices in orthopedic, endovascular, and neurovascular medicine. The investment will be used to advance the company's development programs including development of a new annulus repair implant following lumbar discectomy. The annular implant utilizes a novel, proprietary biomaterial, the Biomerix Reticulated Matrix, a biocompatible, biodurable polyurethane scaffold which has been shown to support tissue growth in animals and may reduce the risk of recurrent disc herniation and continued degeneration of the affected disc. Approximately 300,000 discectomy procedures are performed in the United States and up to 10 percent of patients require additional surgeries to correct reherniation. During a discectomy, the surgeon removes the portion of the spinal disc that is herniated and protruding into the spinal canal. "We continue to invest in new technologies that have the potential to dramatically improve patient outcomes in spinal interventions," said Gary P. Fischetti, President, DePuy Spine. "Biomerix has an innovative technology that we believe can make a real difference for spine surgeons and their patients and we look forward to our continued collaboration with them." "We are pleased with the support we received from DePuy Spine and JJDC. This will enable us to take our product development efforts to the next level with a partner committed to innovation that improves outcomes," said Steven Hochberg, Chief Executive Officer, Biomerix. About Biomerix Founded in late 2001, Biomerix is currently developing three products addressing an aggregate worldwide market opportunity of approximately $2 billion in the areas of Spine, Soft Tissue Repair, and Neurovascular. About DePuy Spine DePuy Spine, Inc., a Johnson & Johnson company, has worked and partnered with leading clinicians, researchers, and thought leaders to develop products to treat spine disorders for over 20 years. The company is committed to advancing the knowledge of all health care professionals and their patients in addressing spinal pathologies. ### |
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