Viscogliosi Brothers has signed an agreement to acquire next generation bone morphogenetic protein (BMP) development program from Bioventus for an undisclosed sum.
Viscogliosi, a private equity investment firm focused on the development of advanced neuromusculoskeletal technologies, is acquiring the BMP development program through its newly formed company.
In 2013, Bioventus purchased the exclusive, worldwide license to the BMP portfolio of development programs and associated intellectual property from Pfizer.
At present, the company is divesting the next-generation BMP development program and BMP program for soft tissue indications.
Bioventus CEO Tony Bihl said: “Divesting the BMP program gives us the opportunity to increase the R&D investment in other areas of our portfolio to support additional short and mid-term programs, while maintaining a stake in its development.
“We now expect to leverage resources to make additional investments that will expand and grow our portfolio in osteoarthritis, surgical and non-surgical bone healing.”
The deal, which is expected to complete by the end of the third quarter this year, is conditional on VB having raised the requisite funds to complete the sale.
Once the deal concludes, Bioventus will secure an equity stake in the new company formed by Viscogliosi Brothers that will work on the BMP program.
Viscogliosi Brothers principal Anthony Viscogliosi said: “Viscogliosi Brothers has formed a new company to actualize this future by acquiring the next generation BMP development program of Bioventus.”
Bioventus produces orthobiologics products for osteoarthritis, surgical and non-surgical bone healing.
The company produces Exogen ultrasound bone healing system, which stimulates the body’s natural healing process
Bioventus Surgical offers a comprehensive portfolio of surgical orthobiologics, which include a range of bone graft solutions to meet the requirements of any surgeon and their patients.
Viscogliosi Brothers is specialized in venture capital, private equity and merchant banking in the neuro-musculoskeletal/orthopedic industry.
Via its portfolio companies, VB has determined seven new orthopedic industry categories and its investments have allowed to commercialize over 75 medtech devices, including orthopedic technologies.