Findings lead to dental product for bone restoration

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14 Νοε 2013 (πριν από 3 χρόνια και 8 μήνες)

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Findings lead to
dental product for
bone restoration
Most scientists hope their research will
benefit people soMeday — but very few
of theM actually leave their lab to bring
their findings to the Market.
2
The American Business Journal October 2009
HeAlTH
BiOmimeTic THerApeuTics inc.
Findings lead to
dental product for
bone restoration
Most scientists hope their research will benefit
people soMeday — but very few of theM actually
leave their lab to bring their findings to the Market.
4
The American Business Journal October 2009
HeAlTH
Almost a decade
ago, one dental faculty
member did just that.
in 2006, a company
founded and headed
by a former Harvard
researcher announced
the launch of its new
product designed to
save people’s teeth
from deterioration while in surgery for chronic peri-
odontitsis. “in academics, you can take a discovery
so far, but it is hard to get it passed the bench top
research because at that point you start to need a
significant amount of money and resources to do
more of the clinical development and deal with the
FDA,” tells Dr. samuel lynch, ceO and president
of Biomimetics Therapeutics inc. At that point, he
was attracted to the industry because he wanted to
make a difference.
“I felt frustrated that we could
only take the research so far, and
not get it to patients,” he says.
After a five-year stint at a large pharmaceutical
company, Dr. lynch tapped into his entrepreneurial
spirit and founded his company. since then, Biomi-
metic Therapeutics inc. has been able to produce
different versions of a non-injectable product for
treating bone loss, fractures, as well as that is also
used in the field of sports medicine. “it’s been a very
exciting and successful journey,” says Dr. lynch.
Early beginnings
of research lead to innovation
in early 2001, at the beginning stages of research in
tissue engineering and regeneration, Dr. lynch ob-
tained funding from the federal government in ear-
ly 2001 to launch his new product into the market.
Once he received the government’s stamp of approv-
al, along with patents for his product line, he was fi-
nally able to bring his findings to the clinic. When he
sold the rights to the first product—a granular wet
material that sticks when packed into bone defects—
for roughly $80 million, Biomimetics reinvested the
money into research and development to expand the
product line. “it was another decision to make-wheth-
er or not to develop the periodontal facial surgery
product or, sell it and use the money to put into the
development of additional product. We are now fo-
cusing on the bigger market of orthopedic spine and
sports medicine products,” says Dr. lynch. The com-
pany’s next product going to clinical trials this fall is
Dr. Samuel Lynch
5The American Business JournalOctober 2009
BiOmimeTic THerApeuTics inc.
6
The American Business Journal October 2009
HeAlTH
an augment injectable bone graph, which is a putty-
like material with a consistency similar to toothpaste.
“it can be injected into the skin to a fracture site, for
example in an emergency room setting to improve
the healing of fractures,” he says. Despite the current
state of the economy, Biomimetics executives say they
have a loyal and strong group of investors. But it has
been a challenge. “We have cut our rate of growth,
but we have not had to downsize,” he says.
In transition, moving forward
Despite operating in a tough economic climate, the
biotech company is continuing to move forward
with its new product line.
“These products are highly-
regulated. It’s in a new drug
device combination product
so we’ve spent the past four
years in the development
stages for the ortheoarthritic
product,” says Dr. Lynch.
The biotech company is set to finish clinical trials for
the lead product—foot and ankle fusion treatment-
this fall and will have approval in canada by this year
and the states next year to sell the product for foot
and ankle fusion,” says Dr. lynch adding the compa-
ny hopes have approval ready to launch the product
in europe. “people who would use that product are
patients with long standing degenerative osteoar-
thritis, whereas our fracture repair products will be
used more broadly for trauma,” he says forwarding
thinking.
Shifting from a scientific
to a commercial mindset
Biomimetics is in transition from being product de-
velopment-focused to a leading commercial organi-
zation, which executives say is a challenge and an
exciting opportunity. “it shows the growth of the
company into a fully integrated biotechnology com-
pany, which historically has been a huge challenge
in our industry because of the focus on product de-
velopment and the focused skill set that it requires,”
says Dr. lynch adding that it is a challenge for those
scientific companies to one that has more of a com-
mercial mind set.
For more information
on Biomimetics Therapeutics inc., visit
http://biomimetics.com/about.htm.
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