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Strategic Initiatives

Bioventus to Divest BMP Development to Viscogliosi Brothers -

Bioventus entered into a definitive agreement to divest its next-gen bone morphogenetic protein development program to Viscogliosi Brothers. The transaction is slated to close in 3Q18. A new company will be formed and will initiate a clinical program to evaluate the technology for spinal fusion. 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, 7/23/18)