Biomimetic Innovations Enters License & Distribution Agreement with Sanara MedTech

Biomimetic Innovations Limited, an affiliate of PBC Biomed, has entered an exclusive license and distribution agreement with Sanara MedTech Inc (Sanara). In tandem, Sanara agreed to make a minority cash investment for equity in BMI.

Sanara has acquired the U.S. marketing, sales, and distribution rights to Biomimetic Innovations’ OsStic Synthetic Injectable Structural Bio-Adhesive Bone Void Filler (OsStic) and a hardware-agnostic adjunctive internal fixation technology featuring novel delivery to promote targeted application of OsStic, for use in fracture management.

The License and Distribution Agreement is for an initial five-year period, with the option to automatically renew for successive two-year periods at Sanara’s discretion.

OsStic, is a disruptive new bio-adhesive bone void filler technology that was granted Breakthrough Device Designation by the U.S. Food and Drug Administration on December 10, 2023.

Paul Burke, Managing Partner of PBC Biomed Ltd and acting CEO of Biomimetic Innovations, stated, “Our goal is to ‘enhance patient wellness’ using disruptive medical innovations. With its market expertise, sales and distribution network, and existing customer relationships, Sanara represents an ideal partner to commercialize our innovative technologies. Together, we look forward to bringing transformative solutions to market that enhance the surgeon’s treatment approach and improve patient outcomes.”

“We are excited to announce this strategic agreement and investment in Biomimetic Innovations,” said Ron Nixon, Sanara’s Executive Chairman and CEO. “OsStic offers a truly differentiated solution, designed to enhance the fracture repair process. We believe OsStic represents a compelling treatment option for the more than 100,000 periarticular fractures that occur in the U.S. annually.”

Sanara is a medical technology company based in Fort Worth, Texas, focused on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the surgical, chronic wound, and skincare market.