Medeon Led and Completed Investments in Panther Orthopedics and Prodeon
TAIPEI, July 8th, 2019 – Medeon Biodesign, Inc. (TPEx: 6499), a Taiwan publicly traded medical device company, is pleased to announce that it recently led and closed two investments, in Panther Orthopedics and Prodeon. Panther Orthopedics is a Silicon Valley startup company pioneering innovative dynamic fixation solutions for orthopedic extremity applications. Prodeon is a Taiwan-based company offering a simple, office-based treatment option for patients who are seeking immediate relief from lower urinary tract symptoms (LUTS) caused by Benign Prostatic Hyperplasia (BPH).
Panther Orthopedics’ U.S. Food and Drug Administration 510(k) cleared PUMA System (TM) is a revolutionary advancement in the treatment of orthopedic injuries that provides the benefits of screws and flexible fixation devices but without their short comings. The spring-like design of the PUMA Body provides initial and continuous compression without the need to overtighten. The PUMA System (TM) has been commercially available since November 2018, and continues to accumulate outstanding clinical experiences.
Prodeon’s investigational device, the XFLO (TM) Expander System, addresses the significant unmet clinical need for treating patients living with BPH and LUTS. Demographics show that about 50% of men aged 50 years and above experience LUTS attributable to BPH, and in men over 80 years old, the incidence rises to over 80%, representing over 71 million actively managed patients worldwide. Drugs and conventional surgical treatments are associated with side effects and complications, including compromised sexual function, bleeding, infections, and long recovery times. Recently, less invasive BPH treatment options with significant clinical advantages are actively and significantly expanding the underpenetrated BPH market. XFLO (TM) is a novel, minimally-invasive, and office-based treatment that provides a simple and less invasive option over conventional surgery or drugs for resolving BPH symptoms. The XFLO (TM) Expander System successfully completed its first clinical use in Australia and the Republic of Georgia.
“Medeon has built an innovation platform that partners with physicians and entrepreneurs to solve unmet medical needs, by bringing innovative ideas from concept to commercialization. With both the resources to fund projects and the capabilities to execute them, this platform combines the strengths of a traditional medtech venture capital firm and those of a medtech development firm. The two recent investments, in Panther Orthopedics and Prodeon, are perfect examples of executing this unique business model with a combination of funding, development expertise, manufacturing capabilities, and industry relations to accelerate medtech development,” said Dr. Yue-Teh Jang, Chairman and CEO of Medeon.
About Medeon Biodesign
Medeon Biodesign (TPEx: 6499) is a publicly traded company located in Taipei, Taiwan, and currently listed on Taipei Exchange. The company focuses on the development of medical devices for minimally invasive surgeries to treat diseases of sizable patient population, such as cardiovascular, peripheral vascular, orthopedic, neurosurgery, obesity, gastroenterology, hematology, nephrology, gynecology, urology, and plastic surgery. For more information, please visit www.medeonbiodesign.com/en.
Contacts
Medeon Biodesign:
Dr. Jenny Chen
TEL: +886.2.2881.6686
Email: IR@medeonbio.com