Biomimetic Innovations announced the execution of an exclusive license and distribution agreement with Sanara MedTech (SMTI). In tandem, Sanara agreed to make a minority investment in cash for equity in BMI. Sanara has acquired the exclusive U.S. marketing, sales, and distribution rights to OsStic Synthetic Injectable Structural Bio-Adhesive Bone Void Filler under the terms of the License and Distribution Agreement, as well as 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.
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