THINK Surgical and Curexo Announce Entry Into Development and Distribution Agreement
Tuesday, August 02, 2022
THINK Surgical, Inc., an innovator in the field of orthopedic surgical robots, today announced its entry into a development and distribution agreement with Curexo, Inc., a medical robotics specialist company based in South Korea. THINK and Curexo have a strong working relationship based on historical development collaboration and Curexo distributes THINK's TSolution One™ platform in Korea and Vietnam.
Under the development and distribution agreement, THINK and Curexo will work together to include certain existing THINK technology and certain newly developed technology in Curexo's CUVIS-Joint orthopedic surgical robot platform. THINK will have exclusive rights to distribute the CUVIS-Joint robotic platform, including the additional technology, in the United States and other countries, including the United Kingdom and certain countries in the European Union.
The CUVIS-Joint robotic platform is currently being used by surgeons in Korea and India with great success. To date over 4,000 procedures have been performed. Curexo will continue to commercialize the CUVIS-Joint robotic platform, including new technology developed with THINK, outside of the countries in THINK's distribution territory. Curexo will also continue to distribute THINK's TSolution One™ platform in Korea and Vietnam.
The CUVIS-Joint robotic platform is not yet cleared for sale in the United States. THINK will be responsible for seeking 510(k) clearance from the Food and Drug Administration (FDA) in the United States with support from Curexo to allow such sales. The companies will work together to seek regulatory clearance in other countries for the CUVIS-Joint robotic platform including additional technology.
"We are excited to deepen our relationship with Curexo and look forward to bringing the CUVIS-Joint platform to the United States and other markets," said Stuart Simpson, president and chief executive officer of THINK Surgical. "CUVIS-Joint is the next generation of active robot for joint replacement featuring an open implant library. As an open system that works with implants from multiple manufacturers, CUVIS-Joint is an outstanding fit within THINK's portfolio of products and services. THINK's open systems, including the CUVIS-Joint, offer a compelling alternative to closed systems which are limited to one manufacture's implants."
"We are more than pleased to enter into this agreement with THINK, a long-standing financial and business collaborator of Curexo," said JJ Lee, chief executive officer of Curexo. "THINK is well positioned to successfully launch the CUVIS-Joint platform in these key markets, and Curexo has great confidence in the new leadership of THINK, led by CEO Stuart Simpson, given Stuart's deep experience in the orthopedic surgical robot business. We look forward to cooperating with THINK to obtain FDA clearance, develop new technology, and deliver new experiences with this next generation of active robot, thereby proving the value of the CUVIS-Joint platform to hospitals and surgeons in these important markets."