Conformis Inc. agreed to sell and license certain assets of its patient-specific instrumentation technology to Stryker Corp. for use in its knee implants.
Under the agreement, Kalamazoo, Mich.-based medical-device maker Stryker will pay Conformis $14 million upfront and up to an additional $16 million in milestone payments.
Billerica, Mass.-based Conformis, which develops and sells joint replacement implants, uses computed tomography-based 3D models in its proprietary patient-specific instrumentation technology to create disposable instrumentation for patients.
Conformis has agreed to supply the technology to Stryker under a long-term distribution deal.
