Orthofix and CGBio Team Up for Bone Growth Products

Lewisville, Texas-based Orthofix Medical has inked a licensing and distribution deal with CGBio for the South Korean company’s bone growth products.

Orthofix will gain rights for the U.S. and Canadian markets for CGBio’s Novosis recombinant human bone morphogenetic protein-2 bone growth materials.

CGBio will receive an undisclosed upfront payment plus potential future payments for reaching regulatory milestones, the companies said.

Orthofix develops medical devices for use in spinal and orthopedic procedures, while CGBio is focused on synthetic bone grafts for spine, orthopedic, trauma and dental applications.