Bioventus, a global leader in orthobiologic solutions, has entered into a development collaboration agreement with MTF Biologics, the world’s largest tissue bank, to co-develop a next generation placental tissue product for the treatment of painful musculoskeletal conditions, with an initial focus on knee osteoarthritis (OA).
Terms of the agreement were not disclosed.
“Development of new orthobiologics offerings for osteoarthritis is a core focus for Bioventus and we are pleased to begin collaborating with MTF Biologics on a solution for knee OA that will offer symptom relief and potentially delay progression of the disease,” said Tony Bihl, CEO, Bioventus. “We also expect to work together to develop additional uses and indications for this product as part of this program. There is a promising and growing body of preclinical and clinical evidence underscoring the potential of these preparations in supporting the body’s natural healing processes thanks to the inherent growth factors and regulatory molecules present in placental tissues.”
“MTF Biologics is excited to begin working with Bioventus to bring this new solution to market,” said Joe Yaccarino, President and CEO, MTF Biologics. “Through this relationship we expect to co-develop and deliver innovative biologic products for orthopaedics to patients and physicians.”
MTF Biologics, also known as the Musculoskeletal Transplant Foundation, is a nonprofit organization based in Edison, N.J. It is a consortium comprised of leading organ procurement organizations, tissue recovery organizations and academic medical institutions, and governed by a board of surgeons who are leading experts in tissue transplantation. As the world’s largest tissue bank, MTF Biologics saves and heals lives by honoring donated gifts, serving patients and advancing science.
Source: Company Press Release.