BioMimetic Hiring a Sales Force for Augment
BY LAUREN UZDIENSKI, JUNE 2, 2010
At the INVEST Tennessee Equity Conference last week, BioMimetic Therapeutics provided some insight into their marketing strategy for when Augment bone graft receives FDA approval. The company expects a decision from the agency on its PMA sometime in 2011.
BioMimetic plans to launch the product in the U.S. with a mix of 100 independent and direct sales reps, whom they say will cover about 75% of all U.S. foot and ankle procedures. The company intends to increase their sales force to 150 to 200 reps within two to three years of Augment's launch. Internationally, the company will set up independent distributors or partners in Europe and Australia and has a partnership in place in Canada, where Augment recently received market clearance.
Ramping up the sales force also speaks to BioMimetic's ambition beyond the foot and ankle application for which Augment, a PDGF-based paste, is currently under review by the FDA. Following initial regulatory approval, BioMimetic will pursue approval for an injectable formulation and they're also evaluating additional indications in trauma, spine and sports medicine.
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