Conformis Named 2008 Red Herring North America 100 Winner
Burlington, Mass. – May 19, 2008 – Conformis, Inc., a privately held company that develops and commercializes minimally invasive medical devices for the treatment of osteoarthritis and joint damage, today announced that is has been named a winner of the 2008 Red Herring North America 100 Award. The award recognizes promising technology companies that will lead the next wave of innovation.
Red Herring award winners were selected based on criteria including unique technology, experienced management team, strong customer base, solid business model, key alliances and financial performance.
Conformis has developed the first ever personalized knee resurfacing implants designed to conform precisely to a patient’s knee. Using a proprietary technology called iFit™ and data from a standard MR or CT scan, Conformis creates minimally-invasive, patient-specific implants that offer unique advantages over a traditional knee replacement. Patients benefit from superior fit, significant bone preservation, less trauma and potentially faster recovery. Healthcare professionals benefit from a simplified, reproducible surgical technique and radical reduction in the number of surgical instruments that require handling and cleaning.
“We’re proud to be the recipients of this prestigious award,” said Philipp Lang, MD, Chairman and CEO of Conformis. “We believe this recognition by Red Herring only further validates the importance of our patient-specific technology for knee replacements currently being offered to the medical device industry. Conformis’ image-to-implant technology offers a truly innovative solution unique to each patient.”
The 100 winning companies were announced as part of the 11th Annual Red Herring North America event on May 13, 2008. Past winners include companies like Google, Yahoo!, eBay, Skype, YouTube, and Salesforce.com.
“We can see the exciting evolution of the technology sector reflected in the quality and variety of exceptional companies that we had to choose from in putting our list together,” said Joel Dreyfuss, editor-in-chief of Red Herring. “It was tough to choose just 100 winners from such a large list of excellent contenders, and we are very happy with the quality of the companies we selected as finalists.”
To qualify for the award, companies must be privately held technology company in headquartered in North America, and must not have been a previous winner.
About Conformis, Inc.
Conformis, Inc. is a privately held company incorporated in 2004 that develops and commercializes medical devices for the treatment of osteoarthritis and joint damages. The Company’s novel and scaleable ‘image-to-implant’ process is comprised of two related technology platforms. iFit™ Technology enables the creation of conforming, patient-specific implants that are precisely sized and shaped to match the 3D topography of the patient’s anatomic bone surfaces. The iJig™ Instrumentation enables the creation of novel disposable instrumentation that radically simplifies and improves the surgical process.
Both platforms are supported by proprietary, intellectual property consisting of more than 120 issued, allowed and pending patents or patent applications that span imaging software, image processing, implant design, surgical techniques and instrumentation.
To date, Conformis has developed a comprehensive line of minimally traumatic, bone and cartilage-preserving knee implants and instrumentation designed to address all stages of osteoarthritis, the most common reason for knee replacement surgery. Each of these devices has been cleared by the US Food and Drug Administration for marketing in the U.S.
New Clinical Study Finds Bilateral Knee Patients Prefer Conformis’ Fully Personalized Solution Over Competitive Off-the-Shelf Implants by a Factor of Over 10 to 1
Study included only patients with a fully personalized Conformis implant in one knee after previously receiving a competitive off-the-shelf implant
Conformis iTotal® CR Knee Replacement System Awarded “7A” Performance Rating from the U.K.’s Orthopaedic Data Evaluation Panel
Independently verified assessment of the performance of the fully personalized iTotal CR system over a 7-year period confirms that it meets the panel’s demanding standards