BioMimetic Therapeutics

BioMimetic Therapeutics, Inc. operated as a biotechnology firm focused on developing and commercializing drug-device combination products for musculoskeletal healing. The company was founded in 1999 by Dr. Samuel E. Lynch, a scientist and entrepreneur with doctorates from Harvard Medical School who pioneered research in regenerative medicine. Dr. Lynch identified the therapeutic potential of recombinant human Platelet-Derived Growth Factor (rhPDGF-BB) and led the company from its inception, through an initial public offering, to its eventual strategic sale.

The company's core business involved creating biologically active products to regenerate bone and associated tissues for orthopedic, spine, and sports injury applications. Its flagship product, Augment® Bone Graft, was developed as a synthetic alternative to autograft, the practice of harvesting a patient's own bone for grafting procedures. Augment combines rhPDGF-BB, which stimulates cell growth and proliferation, with a beta-tricalcium phosphate (β-TCP) scaffold that provides a framework for new bone formation. This approach was designed to offer comparable healing outcomes while eliminating the need for a second, often painful, surgery to harvest bone graft material. The company's business model relied on securing regulatory approvals and then marketing these products to surgeons and medical facilities. BioMimetic successfully gained marketing approval for Augment® in Canada, Australia, and New Zealand.

A significant milestone in the company's history was its acquisition by Wright Medical Group, Inc., an orthopedics company, in a deal announced in November 2012 and completed on March 1, 2013. The transaction was valued at a potential total of approximately $380 million, including an upfront payment of $190 million in cash and stock, plus additional milestone-based payments. The acquisition combined BioMimetic's biologics platform with Wright Medical's established sales force and extremities product portfolio, aiming to accelerate the market adoption of Augment®. Following the acquisition, the FDA approved Augment® Bone Graft in September 2015 for use in ankle and hindfoot fusion procedures. BioMimetic Therapeutics ceased to exist as an independent, publicly traded entity (NASDAQ: BMTI) and became a wholly owned subsidiary.

Keywords: regenerative medicine, orthopedic biologics, bone graft substitute, Augment Bone Graft, drug-device combination, musculoskeletal healing, Samuel E. Lynch, rhPDGF-BB, beta-tricalcium phosphate, tissue engineering, Wright Medical Group acquisition, ankle fusion, hindfoot fusion, autograft alternative, synthetic bone graft, surgical biologics, orthopedic surgery, medical device, biotechnology, preclinical development, clinical trials