Anika Therapeutics, Inc. Announces First Patient Enrolled in FastTRACK Phase III HYALOFAST® Study

Anika Therapeutics, Inc.,

, a global, integrated orthopedics medicines company specializing in therapeutics based on its proprietary hyaluronic acid technology, today announced the enrollment of the first patient in its pivotal HYALOFAST® FastTRACK Phase III clinical study. The HYALOFAST FastTRACK study is a prospective, randomized, active treatment-controlled, evaluator-blinded multicenter study to establish the superiority of a hyaluronan-based scaffold (HYALOFAST®) with autologous bone marrow aspirate concentrate (BMAC) in the treatment of articular knee cartilage defect lesions. The study will enroll approximately 200 patients at up to 30 sites in the U.S. and Europe. HYALOFAST is a biodegradable scaffold that is used to enable cartilage regeneration in patients suffering from cartilage defects. European clinical data demonstrates that patients treated with HYALOFAST plus autologous BMAC in a one-step, minimally invasive arthroscopic procedure were able to successfully regenerate hyaline-like cartilage. HYALOFAST is CE Marked in Europe and is available commercially in 18 countries with more than 6,000 uses to date. "HYALOFAST is an exciting, emerging product in our pipeline, representing Anika's expansion into the rapidly evolving field of regenerative medicine in the orthopedics space," said Dr. Charles H. Sherwood, President and Chief Executive Officer of Anika Therapeutics. "We have seen very positive clinical outcomes in the treatment of knees and ankles internationally using HYALOFAST. We believe the FastTRACK study will give us the pivotal clinical data to support a marketing application for an indication for the repair of cartilage defects of the knee in the U.S." "I congratulate the FastTRACK investigators for beginning enrollment in this trial," said Dr. Alberto Gobbi, Global Principal Investigator. "We know from prior research that the HYALOFAST scaffold supports the adhesion, migration and proliferation of mesenchymal stem cells, and their differentiation into chondrocytes. We look forward to demonstrating the unique advantages of HYALOFAST in a randomized clinical trial."