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|Spire to Develop Nanotechnology Coating for Wear-Resistant Orthopedic Devices|
Business Editors/Technology Editors
BEDFORD, Mass.--(BUSINESS WIRE)--Oct. 3, 2006--Spire Corporation (Nasdaq: SPIR) today announced that it has been awarded a $399,243, two-year grant from the National Institutes of Health-National Institute of Arthritis and Muskuloskeletal and Skin Diseases (NIH-NIAMS) to develop a new type of nanotechnology coating for wear-resistant orthopedic devices, with specific applications for spinal implants.
This program will develop superlattice coatings, which are nano-structures composed of alternating layers of dissimilar materials. They exhibit hardness and wear resistance far superior to their constituent materials. This cutting edge surface technology is expected to significantly increase the service life of spinal implants by controlling the inevitable bearing surface wear that occurs in any articulating system. This technology will have applications across a wide range of orthopedic devices, but disk replacements are targeted in this program due to the heightened risks of revision surgery and the relatively long required service life.
Mark Little, CEO of Spire Biomedical, Inc., said, "The global market for spinal products is showing dramatic growth. Spinal disk replacements, which are a relatively new offering, are susceptible to wear. This project targets the development of new wear-reducing coatings for spinal implants, potentially extending the relief offered by these devices to people who suffer from chronic back pain."
ABOUT SPIRE CORPORATION
Spire Corporation is a diversified technology company providing innovative biomedical devices, advanced medical device surface treatment processes, optoelectronic devices, and solar energy products, all based upon a common technology platform. For more information visit www.spirecorp.com.
Certain matters described in this news release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company's Form 10-KSB filed with the Securities and Exchange Commission.
CONTACT: Spire Corporation Mark Little, 781-275-6000 CEO, Spire Biomedical SOURCE: Spire Corporation