US-based medical technology company NeuroOne has amended its existing distribution agreement with Zimmer Biomet for NeuroOne’s OneRF ablation system.
Zimmer Biomet is a medical device company that designs, manufactures, and sells orthopaedic implants, surgical instruments, and related medical products.
Under the terms of the amended agreement, Zimmer Biomet will obtain certain exclusive rights to distribute the OneRF ablation system for use in the brain.
In exchange, NeuroOne will receive an upfront payment of $3m with the potential to earn an additional milestone payment, subject to achieving certain performance criteria.
The agreement is expected to generate meaningful revenue and drive improved profitability for the company, said NeuroOne.
NeuroOne president and CEO Dave Rosa said: “The expanded agreement with Zimmer Biomet to include distribution of our OneRF Ablation System is a significant catalyst for the company.
“We are confident that the partnership will allow NeuroOne to leverage Zimmer Biomet’s leadership position in robotic technology and extensive distribution channel both in the US and abroad.
“As the world’s first FDA-cleared system for both diagnostic and therapeutic procedures, our ablation system provides clear advantages over existing competitive electrode technologies.”
NeuroOne is a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders.
The NeuroOne OneRF ablation system received the US Food and Drug Administration (FDA) approval to create radiofrequency lesions in nervous tissue for neurosurgical procedures.
It is the only FDA-approved radiofrequency ablation system indicated for both diagnostic and therapeutic use, said NeuroOne.
The system, designed to be placed in the operating room, has been used in several ablation cases since its limited launch in April.
The technology is said to reduce hospital stays, number of surgeries and adverse events while providing temperature control to enhance patient safety.
Zimmer Biomet SET and CMFT president Brian Hatcher said: “We are excited to expand the relationship with NeuroOne to include the OneRF Ablation System, which builds on our existing agreement to distribute NeuroOne’s Cortical and sEEG diagnostic electrode technology, and we look forward to launching this product in the near future.”
In August this year, Zimmer Biomet agreed to acquire OrthoGrid Systems, a company developing AI-powered surgical guidance systems for total hip replacement.
