BioMimetic to launch new bone graft substitute product line at AAOS meeting

Feb 8 2012

BioMimetic Therapeutics, Inc. (NASDAQ: BMTI) today announced it will introduce Augmatrix™ Biocomposite Bone Graft, a new bone graft substitute product line, to surgeons and distributors at its exhibit booth during the American Academy of Orthopedic Surgeons (AAOS) meeting this week in San Francisco, CA.

This Augmatrix product line is comprised of carbonate-apatite (calcium phosphate) and Type I collagen and is designed to be combined with bone marrow aspirate (BMA). The products are available in multiple forms to suit an array of bone grafting challenges, including fracture repair and general bone void filling procedures. The product line has been FDA cleared for use in orthopedic indications and is ready for sale in the United States. Aggregate sales of bone graft substitutes in the U.S. are estimated to reach $1.7B in 2012, according to Millennium Research.

"We believe the addition of the Augmatrix product line will provide surgeons with a range of bone grafting solutions to procedures for which our rhPDGF-BB based offerings will not initially be indicated," said Dr. Samuel Lynch, president and CEO of BioMimetic Therapeutics. "The Augmatrix bone graft substitute platform presents a perfect complement to our existing orthobiologic portfolio and will allow us to penetrate the large bone graft substitutes market earlier than anticipated. We look forward to adding offerings to the Augmatrix program with the goal of expanding the sales of these products through our current distribution network, while establishing a commercial presence with surgeons and hospitals."

The Company's exhibit booth (#4753) is located in Hall D of the Moscone North Convention Center and booth hours are 9:00 a.m.-5:00 p.m. PST from February 8-February 9 and 9:00 a.m.-4:00 p.m. PST February 10. Company management will be available to answer product development questions and will host investor meetings at the exhibit booth. Please contact BioMimetic's corporate communications department for scheduling information.