US-based orthobiologic solutions provider Bioventus has purchased OsteoAMP product line, intellectual property and commercial business from Advanced Biologics.
OsteoAMP is a tissue based bone biologic product, which is used by spine surgeons to promote natural bone growth and healing.
Bioventus CEO Anthony Bihl III said that surgical orthobiologics is a priority for the company and the acquisition puts the firm in position to engage with customers in this market and grow the segment.
"We are very pleased to be in business with the talented team at Advanced Biologics. The well developed and successful clinical data set distinguishes OsteoAMP from competitive technologies," Bihl III added.
The bone biologic product is available in four formats, which include granules, compressible sponges, putty and structural grafts.
The four formats of the product allow surgeons to tailor delivery of the technology according to their needs in surgery.
Advanced Biologics president Amit Govil said: "The exciting part about developing OsteoAMP with my colleagues was seeing our collective vision of changing the bone grafting landscape with OsteoAMP become a reality."
Bioventus will market OsteoAMP through its current network of distributors, and is also creating a new business group to accelerate the growth of the OsteoAMP product line.