BioCentury
ARTICLE | Company News

BioMimetic, Sankyo deal

December 24, 2007 8:00 AM UTC

BMTI will sell its remaining dental business to Sankyo's Luitpold Pharmaceuticals Inc. subsidiary for $40 million in cash. BMTI also will receive about $4 million in cash for existing inventory, plus royalty payments, on GEM 21S and future products. The deal is expected to close Jan. 4, 2008. Under a 2004 deal, Luitpold markets BMTI's GEM 21S to treat bone defects of the jaws, head and face. GEM 21S is a combination of recombinant human platelet-derived growth factor BB ( rhPDGF-BB) and a resorbable synthetic bone matrix. GEM 21S had 3Q07 sales of $1.3 million. ...