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Precision Spine Initiates New Development Effort with Dr. Stephen D. Cook

Parsippany, NJ — November 27, 2012 — Precision Spine, Inc. announced today that it recently entered into an exclusive technology development agreement with Stephen D. Cook, Ph.D.

Dr. Cook is Executive Director and Chief Scientist at the Fellowship of Orthopaedic Researchers in Metairie, Louisiana. His major areas of research interest are Spine Devices, Spine Motion Preservation, Biological Attachment Mechanisms, Mechanics and Histology of Implant Interfaces, and other related fields.

The agreement specifically relates to the development of spinal implants based on rare earth magnetic technology, a subject that Dr. Cook has been researching over the past five years. Rare earth magnets are more than 500 times stronger than their ferrous counterparts, making it possible to create enormous compressive and distractive forces with small implants. The immediate goal of Dr. Cook and Precision Spine will be to develop applications like spinous process implants that create dynamic segmental distraction to decompress spinal stenosis, but without the subsidence of the implant or discomfort that are sometimes associated with devices used today. Dr. Cook and Precision Spine anticipate that the same principles will be applied to decompress painful facets. They also share a common belief that implanted into the intervertebral space, rare earth magnets could end the industry’s search for an effective nucleoplasty device by providing powerful and dynamic decompression of painful and degenerative discs. Dr. Cook stated, “I look forward to the collaboration of my research laboratories with the engineering team at Precision Spine. This magnetic technology has the potential to revolutionize the design and function of spinal implants.”

Jim Pastena, CEO of Precision Spine, expressed his enthusiasm about the agreement, stating, “This new collaboration reflects Precision Spine’s ongoing commitment to advancing spinal technologies. Dr. Cook’s personal involvement will greatly enhance the likelihood of our success in this endeavor. We believe that our collaboration will result in a Precision Spine family of ‘game changing’ products, giving our company unique competitive advantages in these areas.”

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