Bioventus, a company that develops biological products aimed at helping bones heal, has acquired medical device company BioStructures in a move to expand its own offerings for bone graft surgeries.
Durham, NC-based Bioventus disclosed no financial terms for the deal, which gives it access to BioStructures’ commercialized bone-healing products, along with technologies still in research and development. Newport Beach, CA-based BioStructures’ two lead products are Interface, a synthetic graft used to repair bone defects, and Signafuse, a bone graft putty used to pack in spaces of missing bone.
Earlier this year, BioStructures received FDA clearance to market Silhouette, a product that incorporates minerals, such as calcium phosphate, into a collagen scaffold meant to help bones heal. The company says the scaffold was developed to be absorbed and replaced by new bone growth.
Bioventus CEO Tony Bihl said in a prepared statement that the company’s longer-term goal is to develop next-generation bone morphogenetic protein (BMP) technologies. BMPs are naturally occurring proteins found in the human body that can stimulate bone growth. Bihl said that the BioStructures deal builds on the company’s acquisition last year of the OsteoAMP product line from Ladera Ranch, CA-based Advanced Biologics. The OsteoAMP line, made from human bone tissue, is produced in a way that retains natural substances that stimulate bone the growth of bone tissue. The product is intended to promote bone growth and healing in patients undergoing spinal surgeries.
Bioventus is the former biologics unit of London-based medical technology company Smith & Nephew (NYSE: [[ticker:SNN]]). In 2012, Smith & Nephew spun off the division and formed Bioventus, majority owned by healthcare venture capital firm Essex Woodlands. Smith & Nephew retained a minority stake in the Bioventus joint venture.
Privately held BioStructures was founded in 2009. Bioventus says BioStructures employees will be offered jobs at Bioventus.
Photo courtesy of Flickr user UCD School of Medicine under a Creative Commons license.
