24 Jan UAT Group Subsidiary, Ossifix Orthopedics Begins Comparative Study

Tampa, FL, Jan. 20, 2023 (GLOBE NEWSWIRE) — Umbra Applied Technologies Group, Inc. (OTC Pink: UATG) (UAT Group) announce today that its subsidiary, Ossifix Orthopedics has begun a comparative study with doctors across six different sites. The study will compare previously available traditional methods and materials versus The Ossifix Javelin allograft bone pin system. 

Initial patients demonstrated early ambulation with patients driving the next day leading to patients being medically released an estimated 50% faster. The Javelin pin has shown to fully incorporate and become part of the existing bone without ossification. Patients were released around the 4-week mark versus 8-10 weeks typically need with traditional materials and processes.

Constructed of select, high-density, allograft, cortical bone, the proprietary design of the Ossifix Orthopedics Javelin pin ensures rigid fixation without pin slip or pirouetting. Ossifix will continue to build and expand upon this initial success by expanding to additional surgical centers.

Ossifix CEO, Mark Estrada, stated: “We are currently in the process of compiling and analyzing outcome data from surgical procedures done during the latter part of 2022. We will continue gathering data for the next few months and are expecting to compile data on approximately 120 patients in total. The study will report those outcomes from approximately 12 surgeons and compare the Javelin to competitive metallic product outcomes.”

Ossifix engineers and manufactures 100% allograft bone implants for small bone, extremities, and sports medicine markets, but have applications in the craniofacial, spine and oral surgery procedures. Resorbable implant technology is readily accepted and used in today’s market, both domestically and globally. No regulatory approval is required for implantable fixation engineered from allograft bone. As a result, barriers to entry into the market for Ossifix Technologies implants are minimal.

Ossifixs’ unique manufacturing process and patent pending designs yield an engineered cortical bone implant that provides secure fixation and virtually eliminates any allergic or autoimmune reactions associated with metal or plastic/polymer implants. All Ossifix Orthopedics Pin, Screw and Plate Systems are single-use surgical kits with all necessary instruments for implantation and are based on decades of clinical experience and use in the operating room.  Our instrumentation is constructed of an eco-friendly, bio-degradable polymer.

Ossifix products are designed to be used in hospitals, ambulatory surgical centers, and specialty clinics. Distribution is scheduled throughout North America, and globally in Latin America, Europe, Asia Pacific, as well as the Middle East and Africa. This global market is currently experiencing an estimated growth of 14% per year and is expected to reach $4.696 billion in sales this year.

Umbra Applied Technologies Group Chief Executive Officer, Alex Umbra, commented, “Now that the holidays are behind us, the Ossifix team has begun ramping up their sales and scheduled surgeries. I am encouraged with the progress they have made and look forward to the results of the comparative study”.

Ossifix Orthopedics will continue to meet with hospital systems, surgical centers and orthopedic surgeons across the U.S. with international sales slated to begin later this year.

For more information about Ossifix Technologies go here: https://ossifixtech.com/

About Umbra Applied Technologies Group, Inc.

The firm is located in Tampa Florida and focuses on advanced technologies across many disciplines. UAT Group is a holding company with interests in both public and private companies during the early stages of development as well as growth stages of companies with a synergistic business model to UAT Group subsidiaries.

For more information, visit: www.uatgroup.com

Investor and Media Contact: info@uatgroup.com

NEITHER THE SECURITIES EXCHANGE COMMISSION NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information

This news release may include “forward-looking statements” including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Umbra Applied Technologies Group including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Umbra Applied Technologies Group does not assume the obligation to update any forward-looking statement, except as required by applicable law.

SOURCE: UAT Group and Ossifix Orthopedics, Globe Newswire, January 20 2023.

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