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FOR IMMEDIATE RELEASE
Chesterfield, Missouri, United States of America (Free-Press-Release.com) January 4, 2012 -- BioMimetic Therapeutics Announces Approval to Market GEM 21S® in the European Union





BioMimetic Therapeutics, Inc. (NASDAQ:BMTI) announced receipt of the CE Mark approval of GEM 21S Growth factor Enhanced Matrix in the European Union (EU). GEM 21S was approved in the EU with broader periodontal and alveolar bone regeneration indications for use than previously approved in the U.S. and Canada. The additional indications approved in the EU are for the treatment of osseous defects resulting from tooth extraction and trauma.

Additionally, GEM 21S is approved in the EU for use in compromised patients where poor healing may occur. This approval, obtained on behalf of Luitpold Pharmaceuticals, Inc., triggers a $10 million final milestone payment from Luitpold to the Company. This milestone payment was a condition of the Company’s sale of GEM 21S to Luitpold in 2008. The $10 million milestone payment will be in addition to the Company’s 2011 year-end cash guidance of $55 to 62 million.

“GEM 21S has been used extensively in patients requiring dental bone grafting in the U.S. and Canada and we are very pleased that it is now approved for treatment of patients in the EU,” said Dr. Samuel Lynch, founder, president and CEO of BioMimetic Therapeutics. “Additionally, the $10 million milestone payment will provide additional working capital for BioMimetic to seek regulatory approval and commercialize Augment in orthopedic indications around the world.”

BioMimetic Therapeutics is a biotechnology company specializing in the development and commercialization of clinically proven products to promote the healing of musculoskeletal injuries and diseases, including therapies for orthopedics, sports medicine and spine applications. All Augment branded products are based upon recombinant human platelet-derived growth factor (rhPDGF-BB), which is an engineered form of PDGF, one of the body’s principal agents to stimulate and direct healing and regeneration. Through the commercialization of this patented technology, BioMimetic seeks to become the leading company in the field of regenerative medicine by providing new treatment options for the repair of bone, cartilage, tendons and ligaments.

More about BMTI at www.biomimetics.com.

Read the full article at: http://pennygovernance.com/17587/hot-news/bmti-mshl-gblhf-nuro-rtn-notable-stocks-by-pennygovernancecom/

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