As part of the licensing agreement, BMPI will pay ZymoGenetics an initial license fee, along with milestone and royalty payments.
BMPI is a private company focused on tissue engineering and the development, commercialization and marketing of protein therapeutics for the healing and restoration of bone and other tissues.
Upon obtaining the requisite regulatory approvals, BMPI will market and sell the combined product, which is currently for investigational use, only in the United States in the dental, periodontal, oral and cranio-maxillofacial bone grafting markets.
BMPI is focused on the development, commercialization and ultimate marketing of protein therapeutics for tissue regeneration.
The first therapeutic indication to be targeted by BMPI is the treatment of bone defects resulting from periodontal diseases.
BMPI develops products based on the principals of tissue engineering.
Harvard was pleased to enter into the license agreement with BMPI because of the substantial progress Dr.
Our licensing agreement allows ZymoGenetics to leverage our existing intellectual property in this area, while helping BMPI to advance PDGF as a promising approach to address these clinical conditions.
Developed by Martin Dyck, Vice President of Operations at Hydromer, and President of the BMPI subsidiary, it was approved for sale by the FDA in 1991.
Since the acquisition of BMPI earlier this year, we have seen growth in OEM sales of Hydromer-coated products as our OEM customers are regaining confidence in the ability of the BMP subsidiary of our newly expanded company to be a viable long term supplier of their OEM and contract manufacturing needs.