Attendance at the 2025 IFSSH and IFSHT Triennial Global Hand Care Congress

GALWAY, Ireland--(BUSINESS WIRE)--Mar 28, 2025--

Loci Orthopaedics Ltd, a clinical stage orthopaedic medical device company, is pleased to announce its participation at the prestigious Triennial Congress of the International Federation of Societies for Surgery of the Hand (IFSSH) and International Federation of Societies for Hand Therapy (IFSHT). Hosted by the American Society for Surgery of the Hand, American Society of Hand Therapists, and American Association for Hand Surgery, the event is taking place in Washington, D.C. from 24-28 March.

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The Congress is an opportunity to discuss with world’s leading experts and specialists in hand surgery, therapy and innovation, the latest advancements of Loci Orthopaedics’ innovative InDx Implant System. It features an array of engaging programs and sessions, emphasising the latest advancements in technology and innovation in global hand surgery and therapy.

Loci Orthopaedics is represented at the Congress by executive team members Barry Russell, CEO and John Egan VP of Technical Operations. Also in attendance is Loci Orthopaedics’ Scientific Advisory Board of globally renowned hand surgeons; Dr Amy Ladd, Dr Peter Weiss, Professor Filip Stockmans and Professor Marco Ritt.

Barry Russell, CEO, Loci Orthopaedics, commented:“We are delighted to participate at 2025 IFSSH and IFSHT Triennial Global Hand Care Congress and showcase our innovative InDx Implant System with the world’s leading hand care experts. Our technology is a new procedural and device-based option, designed to improve the standard of care for thumb base joint arthritis, a condition with a significant unmet clinical need for an effective, evidence-based, surgical solution. We look forward to engaging with industry leaders, sharing our progress, and contributing to the future of hand surgery.”

Loci Orthopaedics develops innovative technologies that target major unmet clinical needs in orthopaedics extremities. The company’s primary device, its patented InDx Implant System, is an innovative, evidence-based implant for thumb base joint arthritis. Thumb base joint arthritis is a highly and increasingly prevalent condition, which is estimated to actively affect up to 5% of the US and EU population and 100 million people worldwide 1.

The InDx implant is designed to replicate the functional biomechanics of the thumb base joint, with the aim of restoring natural motion for those affected by this painful and disabling condition. InDx’s design and biomechanics have the potential to address the limitations of current thumb implants which are often unsuccessful and are prone to both dislocation and movement post implantation.

Loci Orthopaedics recently announced the successful closing of an oversubscribed €12.8 million Series A financing, the largest orthopaedic fundraising ever for an indigenous Irish startup company. The financing round was led by new investors Seroba, Johnson & Johnson Innovation, JJDC, Inc., (JJDC) and the European Innovation Council (EIC) Fund. This brings the total grant and equity financing the company has raised to over €22 million.

About Thumb Base Joint Arthritis

Most activities that involve grasping or pinching are possible because of the thumb’s remarkable range of motion. Dexterity, however, comes at a price – an increased risk of osteoarthritis (OA) in the first carpometacarpal (CMC) joint, where the thumb meets the trapezium bone in the wrist. Thumb arthritis is common with aging and occurs when cartilage wears away from the ends of the bones that form the joint at the base of the thumb. Thumb arthritis can cause severe pain, swelling, and decreased strength and range of motion, making it difficult to do simple tasks, such as turning doorknobs and opening jars. Treatment generally involves a combination of medication and splints. Severe thumb arthritis might require surgery. It is estimated that 5% of the population have symptomatic thumb base joint arthritis which causes significant hand pain and has a major negative impact on quality of life 1.

About Loci Orthopaedics

Loci Orthopaedics was founded by Mr Gerry Clarke and Dr Brendan Boland as a concurrent spin-out from the University of Galway (Ireland), University College Cork (Ireland) and KU Leuven (Belgium). The company develops orthopaedic technologies to meet major unmet clinical needs with a primary focus on the orthopaedics extremities market. The company focuses on evidence-based design to ensure that its technologies are physiologically optimal to restore natural movement for superior clinical outcomes.

Following the oversubscribed €12.8 million Series A financing in July 2024, to date the company has raised over €22 million in grant and equity financing. The financing will enable the company to strengthen its team, augment the initial clinical investigation which indicates positive preliminary results, and develop additional clinical programs to support regulatory approval applications and future commercialisation in different geographies.

For more information, please visit www.lociorthopaedics.com

1 Zhang Y, Niu J, Kelly-Hayes M, Chaisson CE, Aliabadi P, Felson DT. Prevalence of symptomatic hand osteoarthritis and its impact on functional status among the elderly: The Framingham Study. Am J Epidemiol. 2002 Dec 1;156(11):1021-7. doi: 10.1093/aje/kwf141. PMID: 12446258.

InDx Implant System

NEW YORK (AP) — American Express saw its profits rise sharply in the third quarter as the credit card giant was able to transition the vast majority of its cardmembers over to the new higher-fee Platinum Card while its well-to-do customers continued to spend aggressively on their cards.

The New York-based company reported Friday a profit of $3.71 billion, up 28% from a year ago, or $5.42 a share. Excluding a one-time gain from AmEx's sale of its stake in Global Business Travel Group, the company earned a quarterly profit of $4.68 per share. That figure beat Wall Street estimates.

AmEx's revenue and profits rose from a combination of customers both charging more on their cards and spending more to have an AmEx card. Last year AmEx updated its Platinum Card, adding several new perks for cardmembers while raising the annual fee from $695 to $895. The reviews on the update were generally positive at the time. However, the biggest question for Wall Street was whether AmEx cardmembers, even with its wealthier customer base, would want to stomach a $200 price jump in the card.

So far, AmEx says that nearly all of the customers who have been moved onto the higher fee Platinum Card have decided to keep the card. Net card fees, which include the annual fees on cards like Platinum, rose by more than $400 million compared to a year earlier.

The company also continues to see upticks in the amount of money spent on the cards. The average AmEx customer spent $6,735 on their cards last quarter, or $2,245 a month. That's up 5% from last year.

Some of that higher spend is likely tied to inflation, said AmEx Chief Financial Officer Christophe Le Caillec in an interview. AmEx customers lean heavily into travel and entertainment spending, and for example, airline fares have risen sharply from a year ago due to higher fuel prices and other inflationary pressures. However, the company is also seeing the number of transactions per cardmember increasing as well.

The company now forecasts it will earn an adjusted profit of between $17.60 and $17.90 per share for the full year, raising the lower end of its forecast which previously was $17.30 to $17.90 per share.

FILE - An American Express card is shown, Thursday, Jan. 18, 2024, in Atlanta. (AP Photo/Mike Stewart, File)