Biomet/Selective Genetics
This article was originally published in The Gray Sheet
Executive Summary
Biomet makes a $5 mil. upfront equity investment in privately held, San Diego-based Selective Genetics as part of a corporate alliance covering the application of Selective Genetics' Gene Activated Matrix (GAM) and other technologies for orthopedic indications, including spinal fusion, hip fracture repair, tendon and ligament repair, among others. Selective Genetics plans to begin clinical trials in late 1999 or early 2000. Biomet, which gains a worldwide exclusive license to market all covered products under the agreement, also will fund R&D and be responsible for the regulatory process with FDA. The value of the deal could exceed $32 mil., including the initial investment, R&D funding, and "a potential further equity investment," Selective Genetics says. The firm will also receive product sales royalties