BioMimetic Therapeutics is losing its general counsel of seven years.

The Franklin-based developer of regenerative medical devices disclosed the pending departure of Earl Douglas in a recent filing with the Securities and Exchange Commission. Douglas' last day with the company is this Friday. Spokeswoman Kearstin Patterson told NashvillePost.com that BioMimetic will not immediately launch a search for a replacement but rely instead on Douglas' deputy, Douglas Findlay, as well as outside counsel from both Ropes & Gray out of Boston and locally based Harwell Howard Hyne Gabbert & Manner.

Patterson said Douglas, who joined BioMimetic in May of 2005 after having previously worked at both Smith & Nephew and Spinal Dynamics, is leaving for an opportunity outside of Tennessee at a young company outside the regulatory sphere of the Food and Drug Administration.

"He is leaving the company on good terms and with no disputes," Patterson said. "He is a consummate professional, and we will miss him."

Shares of BioMimetic (Ticker: BMTI) are up almost 1 percent in Tuesday trading. Year to date, they've fallen about 8 percent.