BELGRADE, Mont., Oct. 06, 2015 (GLOBE NEWSWIRE) -- Xtant Medical Holdings, Inc. (OTCQX:BONE), a leader in the development of regenerative medicine products and medical devices, today announced that its wholly owned subsidiary, Bacterin International, Inc., has been awarded a grant from the Montana Board of Research and Commercialization Technology (MBRCT) in the amount of $100,000 for the development and commercialization of the next generation of demineralized bone matrix (DBM) allografts.
Bacterin's research, supported in part by the funding from MBRCT, will focus on enhancing the regenerative capacity of DBM allografts. The new products are anticipated to produce faster and more complete bone healing compared to currently available therapies leading to improved clinical outcomes for Bacterin’s surgeon customers and their patients. Successful commercialization of the therapies developed as a result of the research will further strengthen Bacterin’s DBM product portfolio by providing a differentiated product within the $410 million US market for demineralized bone matrices*.
"We continue to be very grateful for the continued financial support provided by the State of Montana to advance our research initiatives in the field of regenerative medicine," stated Dan Goldberger, CEO of Xtant Medical. "Past funding from the MBRCT has been instrumental to Bacterin’s growth over the years and we appreciate the opportunity to turn this grant into another commercial success."
Mark Schallenberger, MS, is the Principal Investigator for the research project, with Gregory Juda, PhD, CTBS; Todd Meyer, PhD; and Helena Lovick, PhD, CTBS serving as contributing investigators. The award from MBRCT will be used to finalize product development and to fund the pre-clinical studies required to support commercialization of the technology. This marks the third grant awarded to Bacterin by the MBRCT for a total of $458,458 in financial support.
About Xtant Medical Holdings
Xtant Medical Holdings, Inc. (OTCQX:BONE) develops, manufactures and markets regenerative medicine products and medical devices for domestic and international markets. Xtant products serve the specialized needs of orthopedic and neurological surgeons, including orthobiologics for the promotion of bone healing, implants and instrumentation for the treatment of spinal disease, tissue grafts for the treatment of orthopedic disorders, and biologics to promote healing following cranial, and foot and ankle surgeries. With core competencies in both biologic and non-biologic surgical technologies, Xtant can leverage its resources to successfully compete in global neurological and orthopedic surgery markets. For further information, please visit www.xtantmedical.com.
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* - Source: BioMedGPS
Source:Xtant Medical Holdings, Inc.