BioMimetic's shares dive on FDA move

Agency recommends last-minute change to drug's evaluation criteria ahead of milestone hearing
May 10, 2011 3:14 PM

Analyst action: BioMimetic

William Plovanic of Canaccord Genuity has reitered his 'buy' rating on shares of BioMimetic Therapeutics following the Franklin company's fourth quarter earnings release yesterday, citing the fact that there were no changes in the company's expeations for the regulatory timeline for approval of Augment for use in foot and ankle fusions. 

He also noted that "the distribution strategy and the new VP of sales and marketing show the company's intention to make a big impact in the lower extremity market."

Canaccord has a price target of $17.50 on BioMimetic's shares (Ticker: BMTI). The stock was trading near $13 per share Friday morning, up more than 1.5 percent on the day.

Mar 11, 2011 11:33 AM

BioMimetic reports $10M loss

Company continues toward FDA approval
Mar 10, 2011 4:25 PM

Biotech firm gets St. Jude licensing deal

Nashville biotechnology firm Insight Genetics has inked a license agreement with St. Jude Children's Research Hospital. The deal, for rights to mutations in a specific cancer-causing gene, should help Insight Genetics create a diagnostic test to help doctors monitor and treat cancer patients.
"The test we are developing from discoveries made at St. Jude will yield great improvements in the care of patients with a variety of cancers caused by ALK, including lung cancers, lymphomas, certain sarcomas and other malignancies," said Dr. Josh Nickols, Chief Technology Officer and VP of Research and Development at Insight Genetics. "We believe the test will be able to provide clinicians with the ability to make rapid, informed decisions about therapy selection for their patients during the course of treatment with ALK inhibitors."
Dec 14, 2010 1:02 PM

BioMimetic starting sports med clinical trial

BioMimetic Therapeutics Inc. has initiated enrollment in a pilot clinical trial to study Augment Rotator Cuff Graft in repairing large rotator cuff tears. The clinical trial, expected to enroll up to 30 patients, is the Franklin biotechnology firm's first sports medicine clinical trial.
“This is a key development milestone for BioMimetic, as this trial represents the first use of our rhPDGF-BB platform technology directed at improving the healing of tendons and ligaments in humans,” said Dr. Samuel Lynch, president and CEO of BioMimetic Therapeutics. “Over 450,000 people have rotator cuff tears surgically repaired in the U.S. every year, and it has been reported that up to half of these patients could experience retears or incomplete healing. Currently, there are no approved recombinant therapies for facilitating the repair of tendons after injury. Based on our preclinical studies, we believe Augment Rotator Cuff has the potential to speed healing, thus shortening recovery and facilitating faster return to sport and other activity and making reinjury less likely.”
BioMimetic also is working toward Food and Drug Administration approval of its Augment Bone Graft for use in foot and ankle fusions. The company's stock (Ticker: BMTI) is down about 4 percent year-to-date.
Dec 7, 2010 8:36 AM

BioMimetic tweaks European deal

$10M on the line with contract amendments
Nov 19, 2010 1:45 PM

Insight Genetics gets $200K SBIR contract

Nashville biotechnology firm Insight Genetics has received a $200,000 Small Business Innovation Research contract from the National Cancer Institute to develop a test for lung cancer patients. The company — which recently received nearly $245,000 in federal funding — is one of four firms across the country to receive the NCI funding.
"Personalized medicine is the future of cancer care," said Eric Dahlhauser, Chairman and CEO of Insight Genetics. "Companion diagnostics help physicians identify which patients are likely to benefit from certain cancer treatments and also can be useful tools in monitoring if a cancer therapy is effective or not. Insight Genetics is excited to be developing diagnostic assays to improve the care available to cancer patients.”
For details on Insight Genetics' contract, click here. For more background on the company, visit this link.
Nov 9, 2010 1:41 PM

Local life science companies land $2.6M

Health reform law grants to accelerate development of new and cost-saving therapies
Nov 3, 2010 4:23 PM

Tennessee Biotech Assn. rebrands

The Tennessee Biotechnology Association has changed its name to Life Sciences Tennessee. The switch is designed to reflect the organization's broader focus on industries including biotechnology, pharmaceuticals, biomedical technologies and devices, biofuels, food processing and supporting research and development organizations.
“The goal of our organization is to create investment and partnering opportunities, help attract and retain the best talent and provide networking and educational opportunities within the life science industry in Tennessee. Therefore, casting a broader net, both in name and in spirit, and being the organization that advances all the Life Sciences makes sense,” said Life Science Tennessee board member Joe Cook Jr. “Tennessee is already doing amazing work in the life sciences, and the potential to grow this industry in our state and bring with it the economic opportunity, the high-paying jobs, the innovations and the course-altering discoveries is an exciting proposition.”
The organization will make it's official debut at its annual meeting on Nov. 12 at the Renaissance Hotel. Click here for information on the event.
Oct 22, 2010 1:21 PM

BioMimetic leaving COO slot vacant

BioMimetic Therapeutics Inc. will not fill the chief operating officer role following the departure of Steven Hirsch at the end of October. Company spokeswoman Kearstin Patterson said the Franklin firm may consider adding a COO in the future, but for now it's focusing its efforts on ramping up sales and marketing for Augment, which is expected to receive Food and Drug Administration approval for a commercial launch next year. BioMimetic has launched a search for a vice president of global sales and marketing. Vice President of Sports Medicine Hans Kestler is picking up Hirsch's responsibilities as executive vice president of orthopedics on an interim basis.
Oct 5, 2010 11:48 AM