Bioventus Announces Purchase of Exclusive Rights to Pfizer's BMP Portfolio

Bioventus, a leader in active orthopaedic healing, today announced agreement with Pfizer Inc. PFE for an exclusive, worldwide license to Pfizer's bone morphogenetic protein (BMP) portfolio of development programs and associated intellectual property. The portfolio includes a next-generation BMP in development, designed to offer additional options to currently-marketed BMP products, and the rights to rhBMP-2 in indications and fields previously reserved to Pfizer. Bioventus has also acquired an exclusive option to a BMP program for soft tissue indications. Pfizer has agreed to transfer to Bioventus all existing development work for the BMP assets and to undertake certain early-development activities relating to the next-generation BMP. Pfizer will also manufacture rhBMP-2 and supply it to Bioventus. To lead the BMP programs, Bioventus has retained the services of distinguished BMP scientists Dr. John Wozney and Dr. Howard Seeherman. Bioventus is opening a research laboratory in Boston, MA to pursue development and commercialization of the BMP assets. Under the terms of the license agreement, Pfizer received an upfront payment and will be eligible to receive milestone payments and royalties on any sales.