BioMimetic Therapeutics' Clinical Investigator to Present Orthopedic Clinical Results
from Canadian Trial on November 4; Company to Report Third Quarter Financial Results
Franklin, Tenn. – November 2, 2006 - BioMimetic Therapeutics, Inc. (NASDAQ: BMTI) today announced that the Company plans to release on Monday, November 6, 2006 its financial results for the three and nine months ended September 30, 2006. The Company will host a conference call and audio webcast at 5:00 p.m. EST the same day. Dr. Samuel E. Lynch, president and CEO, and members of the Company's management team will host the call to discuss the Company's orthopedic product development programs and third quarter 2006 financial results.
Further, on Saturday, November 4 at 9:00 a.m. EST, the Company's lead Canadian investigator, Timothy R. Daniels, M.D., will review preliminary results from the GEM OS1 Canadian pre-pivotal clinical trial for foot and ankle fusion indications. Dr. Daniels' presentation will be at the Dewar Orthopaedic Society Meeting which is being held in Toronto, Ontario. Dr. Daniels will also participate in the Company's November 6 conference call to discuss the study findings and will hold a brief Q&A session.
The conference call can be accessed by dialing 800-901-5248 (passcode 75663626) on November 6. The international dial in number is 617-786-4512. The same passcode applies. Participants should dial in 15 minutes prior to the 5:00 p.m. call. A live webcast of the conference call will be available on the Investor Relations section of BioMimetic's website at www.biomimetics.com. The webcast will be archived for at least 30 days following the call.
The Company also announced that Dr. Lynch will provide an update of corporate activities at the Rodman & Renshaw 8th Annual Healthcare Conference. The presentation is scheduled to take place in the Villard Ball Room at the New York Palace Hotel in New York City on Tuesday, November 7 at 2:50 p.m. EST.
A live audio webcast of the Rodman & Renshaw presentation will be available at http://www.rodmanandrenshaw.com/Conferences.asp?CID=conf19&ACT=confwebcasters&BGCOLOR=wht and on the Company's website at www.biomimetics.com. The webcast will be archived on the Company's website for a period of at least 30 days following the presentation.
As a result of the release of the Company's third quarter financial results and as described in the Company's Prospectus dated May 12, 2006, the lock-up period for shareholders which was set to expire on November 8, 2006 will be extended to November 23, 2006. This extension prevents those shareholders subject to the lock-up as described in the Prospectus from trading in BioMimetic securities through the November 23rd date.
About BioMimetic Therapeutics
BioMimetic Therapeutics, Inc. is developing and commercializing bio-active drug-device combination products for the healing of musculoskeletal injuries and disease, including periodontal, orthopedic, spine and sports injury applications. BioMimetic received marketing approval from the FDA for its first product, GEM 21S ®, as a grafting material for bone and periodontal regeneration following completion of human clinical trials, which demonstrated the safety and efficacy of its platform technology in this indication. Additionally, the Company has clinical trials ongoing for orthopedic bone healing indications. The Company's product and product candidates all combine recombinant protein therapeutics with tissue specific scaffolds to actively stimulate tissue healing and regeneration.
Forward-looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current intent and expectations of the management of BioMimetic. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. There are many important factors that could cause actual results to differ materially from those indicated in the forward-looking statements. BioMimetic's actual results and the timing and outcome of events may differ materially from those expressed in or implied by the forward-looking statements because of risks associated with the marketing of BioMimetic's product and product candidates, unproven preclinical and clinical development activities, regulatory oversight, and other risks detailed in the company's filings with the Securities and Exchange Commission, including the section entitled "Risk Factors" in its Prospectus dated May 12, 2006, filed with the Securities and Exchange Commission on May 12, 2006 and in its quarterly report on Form 10-Q for the second quarter 2006. Except as required by law, BioMimetic undertakes no responsibility for updating the information contained in this press release beyond the published date, whether as a result of new information, future events or otherwise, or for changes made to this document by wire services or Internet services.
For further information, visit www.biomimetics.com or contact Kearstin Patterson, manager corporate communications, at 615-236-4419.
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