BioMimetic Therapeutics Ships Augment™ Bone Graft to Canadian Distributor; Product Now Available for Sale to Canadian Customers
Franklin, Tenn. – December 11, 2009 – BioMimetic Therapeutics, Inc. (NASDAQ: BMTI) announced today that the Company has shipped its first order of Augment Bone Graft to its Canadian distributor, Joint Solutions Alliance Corporation, a sales and distribution company for orthopedic products headquartered in Burlington, Ontario, Canada.
Joint Solutions is the exclusive distributor of BioMimetic’s Augment Bone Graft product in Canada. BioMimetic will also utilize product specialists in the Canadian market to work collaboratively with the Joint Solutions Team. The product was recently approved by Health Canada for use as an alternative to autograft in foot and ankle fusion surgery.
“Canada represents the first commercial opportunity within orthopedics for BioMimetic, so we are naturally very excited to have the product shipped and available for sale,” said Steven Hirsch, COO of BioMimetic Therapeutics. “Our distribution partner, Joint Solutions, has already begun the process of familiarizing orthopedic surgeons with Augment Bone Graft and the patient benefits of using Augment as an alternative to performing a second surgery to collect autograft. We are confident that once surgeons have evaluated the product, they will welcome the addition of this new regenerative technology to their surgical toolkit.”
About Augment Bone Graft
Augment is a completely synthetic grafting system for bone regeneration and is composed of a purified recombinant growth factor, recombinant human platelet derived growth factor (rhPDGF-BB), and a synthetic calcium phosphate matrix, beta-tricalcium phosphate (β-TCP). The combination of the two components of Augment is the key to the overall effectiveness of the product. The rhPDGF-BB provides the biological stimulus for tissue repair by stimulating the recruitment and proliferation of new bone forming cells and blood vessels, while the β-TCP provides the framework or scaffold for new bone growth to occur. Autograft is the historical standard of care for these procedures but has the limitation that it must be obtained and transplanted from another bone in the patient’s body, often requiring a second surgical procedure. Previously released data shows, with the use of Augment, patients can expect a comparable treatment outcome while being spared the pain and potential morbidity associated with traditional autograft bone harvesting and transplantation.
