Bioventus entered into a definitive agreement to divest its next-gen bone morphogenetic protein (BMP) development program to Viscogliosi Brothers, LLC, which will form a new company and initiate a clinical program to evaluate the technology for spinal fusion. The transaction is slated to close in 3Q18.
Bioventus acquired exclusive, worldwide rights to Pfizer’s BMP portfolio of development programs and associated intellectual property in 2013. The portfolio includes the BMP in development, rights to rhBMP-2 and an exclusive option to a BMP program for soft tissue indications. The rhBMP-2 rights were not mentioned in the current transaction, though they may be included.
At completion, Bioventus will receive an equity stake in the new company formed by Viscogliosi Brothers and will hold an observational board seat to follow the progress. Bioventus will now leverage its resources in support of its osteoarthritis, surgical and non-surgical bone healing portfolios (e.g. SUPARTZ, DUROLANE and its EXOGEN ultrasound bone healing product); this is a pivot from 2016, when ORTHOWORLD reported that the company was investing $10 million annually in its BMP program and expected to have product commercialized within 15 months.
Bioventus entered into a definitive agreement to divest its next-gen bone morphogenetic protein (BMP) development program to Viscogliosi Brothers, LLC, which will form a new company and initiate a clinical program to evaluate the technology for spinal fusion. The transaction is slated to close in 3Q18.
Bioventus acquired exclusive, worldwide...
Bioventus entered into a definitive agreement to divest its next-gen bone morphogenetic protein (BMP) development program to Viscogliosi Brothers, LLC, which will form a new company and initiate a clinical program to evaluate the technology for spinal fusion. The transaction is slated to close in 3Q18.
Bioventus acquired exclusive, worldwide rights to Pfizer’s BMP portfolio of development programs and associated intellectual property in 2013. The portfolio includes the BMP in development, rights to rhBMP-2 and an exclusive option to a BMP program for soft tissue indications. The rhBMP-2 rights were not mentioned in the current transaction, though they may be included.
At completion, Bioventus will receive an equity stake in the new company formed by Viscogliosi Brothers and will hold an observational board seat to follow the progress. Bioventus will now leverage its resources in support of its osteoarthritis, surgical and non-surgical bone healing portfolios (e.g. SUPARTZ, DUROLANE and its EXOGEN ultrasound bone healing product); this is a pivot from 2016, when ORTHOWORLD reported that the company was investing $10 million annually in its BMP program and expected to have product commercialized within 15 months.
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