Ikona Gear(C) and Aircast(R) Enter Into Licensing Agreement
VANCOUVER, March 4 -- Ikona Gear International, Inc. ("Ikona") and Aircast Incorporated ("Aircast") report that effective immediately they have entered into a Licensing Agreement (the "Agreement") granting Aircast access to an exclusive worldwide royalty bearing arrangement to use Ikona's patented gear technology in the field of medical equipment performing the functions of human joint braces.
In accordance with the Agreement, Aircast is licensing Ikona's technology for commercial launch of a patent pending elbow brace, jointly developed with the Mayo Clinic. Aircast has contracted for the use of Ikona's extensive engineering expertise and will be paying a royalty on units sold. Aircast will launch the new model of the elbow brace with the Ikona Gear at the American Academy of Orthopaedic Surgeons (AAOS) meeting in San Francisco March 10-14. Aircast anticipates the addition of the Ikona Gear will continue to enhance the success of the device, which was initially released at AAOS 2003. The Ikona Gear is critical to Aircast's unique hinging mechanism, which enables the product to provide safely controlled static and adjustable stretch with the option of complete range of motion, leading to improved patient outcomes following elbow surgery or trauma.
"In tests conducted to date," says David Hargrave, New Product Development Manager for Aircast, "we have achieved, at a minimum, a 100% increase in strength and power transmission by replacing the prior gear with the Ikona Gear(C) in the elbow brace, and we anticipate further improvements". Aircast believes the Ikona Gear(C) technology may lead to the further developments of a number of new joint brace applications in the worldwide medical devices industry.
Laith Nosh, President and CEO of Ikona, adds: "This Licensing Agreement illustrates the validation of our technology for commercial applications in the medical devices marketplace. This further illustrates the breadth of applications available to Ikona as we roll out our new gearing technology through licensing agreements with Aircast who will benefit from the increased strength and reduced weight afforded by our patented Ikona gearing technology."
About Ikona Gear ----------------
Ikona Gear International, Inc. is a publicly traded company (OTCBB:IKGI). The company is incorporated in the United States, with offices in Vancouver, Canada, and in Colorado. Ikona is the owner of US Patent number 5,505,668, granted April 9, 1996; Canadian patent number 2,129,188; and European patent number 0,770,192. The new Ikona Gear(C) patented design allows for a single stage of gearing with high reduction and high gear tooth contact ratio, with rolling rather than sliding contact between the Ikona gear teeth. Ikona's technology provides significant technological advantages: a very high torque and strength to weight ratio; very low friction and high efficiency due to rolling gear-tooth contact; zero backlash allowing highly accurate back-and- forth gear actuation; reduced gear wear and fewer moving parts.
About Aircast -------------
Aircast, developers of the first off-the-shelf-below-the-knee cast, manufactures orthopedic devices for the functional management of injuries. For over 30 years Aircast has provided scientifically based innovative solutions to improve medical outcomes and achieve total customer satisfaction. Aircast manufactures products in the following categories: Ankle Braces, Walking Braces, Cryo-Compression Therapy, Vascular Systems and Specialty Products such as the AirHeel(TM). Aircast strives for continuous process and product improvement by listening to their constituents, investing in professional growth and promoting education. Aircast devices have been used by almost one in every five families in the United States and are sold in over 20 countries around the world.
For additional information, Contact: On Behalf of the Board Ikona Gear International, Inc. "Laith Nosh" Laith Nosh, President and CEO
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