Updated on 4 July 2013
Bioventus acquires exclusive worldwide license to Pfizer's bone morphogenetic protein (BMP) portfolio
Singapore: Bioventus, which specializes in active orthopaedic healing, has acquired exclusive, worldwide license to Pfizer's bone morphogenetic protein (BMP) portfolio of development programs and associated intellectual property.
The portfolio includes a next-generation BMP in development, designed to offer additional options to currently-marketed BMP products, and the rights to rhBMP-2 in indications and fields previously reserved to Pfizer. Bioventus has also acquired an exclusive option to a BMP program for soft tissue indications. Pfizer has agreed to transfer to Bioventus all existing development work for the BMP assets and to undertake certain early-development activities relating to the next-generation BMP.
Pfizer will also manufacture rhBMP-2 and supply it to Bioventus. To lead the BMP programs, Bioventus has retained the services of distinguished BMP scientists Dr. John Wozney and Dr. Howard Seeherman. Bioventus is opening a research laboratory in Boston, MA to pursue development and commercialization of the BMP assets. Under the terms of the license agreement, Pfizer received an upfront payment and will be eligible to receive milestone payments and royalties on any sales.
Mr Martin Sutter, founding partner and MD, Essex Woodlands, the lead investor in Bioventus, said that, "This licensing agreement demonstrates the viability of the investment thesis underlying our participation in Bioventus. Developing the next-generation BMP will enable Bioventus to become a recognized leader in orthobiologics."
"As Pfizer continues to prioritize and actively manage our dynamic pipeline, we have looked for strong partners who are best suited to advance programs outside our core focus areas," said Dr Jose Carlos Gutierrez-Ramos, group senior VP, and head, biotherapeutics R&D, Pfizer. "Given Bioventus' expertise and commitment to orthopaedic healing, we believe it is well positioned to advance important new options to orthopaedic patients."