Conformis received 510(k) approval from the FDA for patient-specific instrumentation developed under a license agreement and development agreement with a subsidiary of Stryker.
The clearance of the patient-specific instrumentation, used for Stryker's Triathlon total knee system, marks Conformis' third milestone of three under an agreement with Stryker, according to an April 22 news release. With the milestone reached, Stryker will pay out $11 million to Conformis.
"With the recent FDA clearance, we are pleased to have attained the last milestone of our project and to report the successful conclusion of our joint development agreement with Stryker," Conformis President and CEO Mark Augusti said.