Investors Target BioMimetic Over Bone Graft Statements

Law360, New York (August 15, 2011, 3:17 PM EDT) -- BioMimetic Therapeutics Inc. shareholders sued the biotechnology company Friday in Tennessee federal court, accusing its executives of puffing up the results of clinical trials for its star product, a synthetic bone graft.

BioMimetic's lead product candidate is Augment, a synthetic bone graft for use in foot and ankle fusion surgery. Although the company and its executives touted the new bone graft in regulatory filings and press releases, they knew that there were serious problems with it that the U.S. Food and Drug Administration ultimately revealed, according...
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