The number-two Japanese maker of dental materials, SHOFU INC., has signed a development agreement with NORIAN CORP. under which the pair will work on a new formulation of the Cupertino, California firm's proprietary Norian SRS for periodontal applications. Norian SRS is an injectable, moldable bone cement for use in cancellous bone. Commercialized for orthopedic applications, it is replaced over time by living bone. The Kyoto company has exclusive rights to market both Norian SRS for dental applications and the new formulation for periodontal use in Japan and elsewhere in Asia as well as in North America and Europe. As part of the agreement, Shofu will buy $3.4 million of Norian's preferred stock.
An exchange rate of ¥132=$1.00 was used in this report.