Invibio, Part of Victrex plc, Announces New Collaboration With Paragon Medical to Support Scale Up of PEEK Based Trauma Devices

Invibio establishes composite trauma manufacturing capacity in China, by collaborating with Paragon Medical.

LANCASTER, England, June 09, 2023--(BUSINESS WIRE)--Invibio Biomaterial Solutions, part of Victrex plc, a pioneer in the development of PEEK biomaterial solutions, today announced a new collaboration with Paragon Medical, a medical device contract design manufacturer with over a century of combined expertise in high-precision manufacturing, advanced engineering and design support, to manufacture composite PEEK-OPTIMA™ Ultra-Reinforced medical trauma devices.

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Image courtesy of Invibio taken at Paragon Medical's recent opening of their expansion of dedicated space for this collaboration in their manufacturing facility in Changzhou, China.

The manufacturing arrangement with Paragon Medical will support the scale up of high quality PEEK-OPTIMA™ ultra-reinforced composite fracture fixation devices, at a time when Invibio is seeing demand exceeding initial expectations.

The announcement coincides with Paragon Medical's recent expansion of dedicated space for this collaboration in their manufacturing facility in Changzhou, China.

Investing in the future of Invibio PEEK-OPTIMA™ Ultra-Reinforced composite devices

Invibio has extensive experience in collaborating with customers in PEEK-OPTIMA™ Ultra-Reinforced part design and process development, with significant know-how and intellectual property (IP). During this time Invibio has developed novel materials and IP in relation to optimising the design and development of these parts and supporting customers with regulatory approval.

"We are delighted to be working with Invibio to increase production of their innovative devices which can help to drive improved patient outcomes globally," says Wil Boren, Paragon Medical CEO.

Providing scale, quality, confidence and manufacturing flexibility

The recent opening of the Invibio Leeds orthopedic product development centre in the UK has the potential to support an increase in the speed at which medical device companies can develop new PEEK-OPTIMA™ Ultra-Reinforced composite fracture fixation devices.

The Paragon Medical collaboration can provide Invibio customers with additional world class medical composite manufacturing facilities to help serve growing customer demand for these products.

"Trauma is one of Victrex's key mega-programmes, where we see significant growth opportunities over the years ahead and the opportunity to enhance patient outcomes. Clinical data on PEEK based trauma plates is already encouraging and initial demand is exceeding our expectations. We have invested over several years now, and bring a wealth of intellectual property in this area. Paragon Medical will help us support manufacturing scale up, and they bring an excellent reputation as one of the world's premier medical contract manufacturers. We are delighted to work with them to grow the composite trauma space and to make it easier for medical device companies to adopt this technology," explains Jakob Sigurdsson, CEO of Victrex.

"With a broad operating footprint in Europe, China and America, Paragon Medical are an attractive company to work with, dealing with evolving supply chain strategies within the medical device industry."

PEEK-OPTIMA™ Ultra-Reinforced composite device benefits

Patient risk factors affecting fracture healing such as diabetes, osteoporosis or obesity have increased significantly in recent years, which has in turn increased the challenges for traditional titanium plates and nails to successfully heal patients. The increased risk of delayed union or non-union may be reduced by utilising plates made from PEEK-OPTIMA™ Ultra-Reinforced materials due to their increased fatigue lifetime and the ability to tailor the stiffness of the device.*

PEEK based medical devices have been successfully implanted for over twenty years. The benefits of PEEK OPTIMA Ultra reinforced trauma plates such as increased fatigue lifetime, tailored stiffness and improved imaging are now being utilised to treat a more challenging patient population.*

The potential to reduce revisions and accelerate healing make these solutions attractive to surgeons, patients and to payors.

To find out more about starting a trauma product development project contact us today.

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*Sources: Data on file at Invibio

About Invibio Biomaterial Solutions

Invibio, part of the Victrex plc group of companies, is a global leader in providing high-performance biomaterial solutions to medical device manufacturers. The company provides PEEK-OPTIMA™ polymers, advanced technical research and support and manufacturing of components for spine, trauma and orthopaedic and dental medical segments for the development of long-term implantable medical devices. Today, Invibio's PEEK-OPTIMA polymers are used in approximately 15 million implanted devices worldwide. Learn more at www.invibio.com

About Victrex plc

Victrex is an innovative world leader in high performance polymer solutions, focused on the strategic markets of automotive, aerospace, energy & industrial, electronics and medical. Every day, millions of people use products and applications which contain our sustainable materials – from smartphones, aeroplanes and cars to energy production and medical devices. With over 40 years’ experience, we develop world leading solutions in PEEK and PAEK based polymers, semi-finished and finished parts which shape future performance for our customers and our markets, enable environmental and societal benefits, and drive value for our shareholders. Find out more at www.victrex.com

About Paragon Medical

Paragon Medical helps accelerate new product development for ambitious medical manufacturers. We produce everything from high-precision individual components and assemblies to complete end products. Our experts have deep experience across a wide range of applications including implants, surgical instrumentation, single-use disposable devices, and many more. They’ll help you refine your designs, improving performance and reducing cost while ensuring compliance with established and emerging regulations. Find out more at www.paragonmedical.com

Disclaimer

This information is provided "as is". It is not intended to amount to advice. Use of the product is at the customer's/user's risk. It is the customer's/user's responsibility to thoroughly test the product in each specific application to determine its performance, efficacy and safety for each end-use product, device or other application and compliance with applicable laws, regulations and standards. Mention of a product is no guarantee of availability. Victrex reserves the right to modify products, data sheets, specifications and packaging. Victrex makes no warranties, express or implied (including, without limitation, any warranty of fitness for a particular purpose or of intellectual property non-infringement) and will not be liable for any loss or damage of any nature (however arising) in connection with customer's/user's use or reliance on this information, except for any liability which cannot be excluded or limited by law. This document may be modified or retracted at any time without notice to the customer/user.

Victrex Manufacturing Limited (or another member of the Victrex group) is the owner or the licensee of all intellectual property rights in and to this document including the following trademarks, VICTREX, INVIBIO, JUVORA, APTIV, 450G, PEEK-OPTIMA, SHAPING FUTURE PERFORMANCE, LMPAEK, TRIANGLE (Device). All rights are protected by intellectual property rights including copyright under relevant national and international intellectual property laws and treaties. All rights reserved. Copyright © Victrex Manufacturing Limited 2023.

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Contacts

Victrex media contactMelanie [email protected], Phone +44 1253 898024Group media or Investor Relations enquiriesAndrew [email protected], Phone +44 1253 898121