Ferring Pharmaceuticals acquires two phase III ready orthobiologic product candidates from BioSET
February 18, 2015 11:40 AM Eastern Standard Time
SAINT PREX, Switzerland--(BUSINESS WIRE)--Ferring Pharmaceuticals announced today that it has acquired the assets of BioSurface Engineering Technologies, Inc. (BioSET), including two phase III ready orthobiologic product candidates designed to improve bone repair. The initial indications for AMPLEX® and PREFIX® to be investigated are fusion in foot/ankle and lumbar spine surgical procedures, respectively. Both products are based on a unique biomimetic peptide designed to enhance the body's own natural mechanisms of bone repair.
Orthopaedics has grown to become one of five key therapeutic areas for Ferring since the 2005 launch of EUFLEXXA® (1% sodium hyaluronate) for the treatment for knee pain due to osteoarthritis.
"With the acquisition of the BioSET portfolio, Ferring intends to build on its growing success in orthopaedics," said Michel Pettigrew, President of the Ferring Executive Board and COO, "By developing new orthobiologic products for joint fusion, we will expand and diversify our offering to include innovative solutions for orthopaedic surgery."
Each year approximately two million procedures involving bone graft materials, including approximately 700,000 fusions, are performed in the U.S. alone. This number is increasing more than 5 percent annually1 as orthopaedic surgeons treat an expanding, aging population of patients with severe bone degeneration and traumatic defects.
In addition to AMPLEX and PREFIX, Ferring has acquired a library of rationally designed biomimetic peptides intended for applications in bone and tissue repair.
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About Ferring Pharmaceuticals:
Headquartered in Saint-Prex, Switzerland, Ferring Pharmaceuticals is a research-driven, specialty biopharmaceutical group active in global markets. The company identifies, develops and markets innovative products in the areas of reproductive health, urology, gastroenterology, endocrinology and orthopaedics. Ferring has its own operating subsidiaries in nearly 60 countries and markets its products in 110 countries. To learn more about Ferring or its products please visit www.ferring.com.
All trademarks mentioned are property of Ferring.
1 2014 BioMEDGPS