BioArctic Neuroscience and Elos Medtech start collaboration on new treatment for spinal cord injuries

The text below is a translation of a Swedish press release.

The Swedish biotech company BioArctic Neuroscience and the medtech company Elos Medtech have today signed a cooperation agreement for a new treatment of spinal cord injuries.

Today there are 2.5 million spinal cord injuries that are substantially lacking effective treatment. Through innovative Swedish research, a product has been developed that can contribute to successful neurosurgery, which can hopefully improve the functioning and quality of life for spinal cord injured patients.

“We are very pleased with the agreement with Elos, who has a unique technical know-how and the right experience to produce the device, which is necessary to guide the nerve threads correctly. This is a completely new way of treating spinal cord injury, which is a condition of great personal suffering and markedly reduced quality of life as well as high financial costs for society, ” said Dr. Pär Gellerfors, CEO of BioArctic Neuroscience.

The future product is a biodegradable device combined with a growth factor that will support and lead nerve growth in the spine and restore function. The first clinical trial with the new treatment is scheduled to start in 2011.

For further information

BioArctic Neuroscience AB

Pär Gellerfors, CEO
telephone +46 (0)8 695 6931
e-mail par.gellerfors@bioarctic.se

Elos Medtech

Søren Olesen, VP
telephone +45 48 21 64 60
e-mail soren.olesen@elosmedtech.com

Elos AB (publ)

This information is information that Elos AB (publ) is obliged to make public in accordance with the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on October 19, 2010 at 08:00 (CET).

The Elos Group’s operations include development, manufacturing and marketing to international customers who require complex products that are used in demanding environments in the business areas Medical Engineering and Precision Engineering. For further information, see www.elos.se