BELGRADE, Mont., Oct. 27, 2014 (GLOBE NEWSWIRE) -- Bacterin International Holdings, Inc. (NYSE MKT:BONE), a leader in the development of bone graft material and coatings for medical applications, has been awarded a grant from the Montana Board of Research and Commercialization Technology (MBRCT) in the amount of $192,484 for the development and commercialization of a novel regenerative medicine technology.
The MBRCT states that, "The purpose of the program is to encourage economic development through investment in research projects that have a clear path to commercialization." Bacterin's research, supported in part by the yearlong grant from MBRCT, will address a long-standing clinical challenge which aims to provide life-enhancing care to wounded military personnel and civilians. Biologic products for the treatment of soft tissue and wound repair offer enhanced clinical outcomes which benefit patients directly in the form of more rapid and complete tissue regeneration. The technology addresses an estimated $683M annual market, constituting 22% of the addressable market for regenerative medicine.
Bacterin's CEO Dan Goldberger stated, "We are extremely grateful for the financial support from the state of Montana. This funding will support our development initiatives within the field of regenerative medicine."
Mark Schallenberger, MS, is the Principal Investigator for the research project, with Gregory Juda, PhD, CTBS; Todd Meyer, PhD; and Helena Lovick, PhD, CTBS serving as contributing investigators. The award from MBRCT will be used to finalize process development and to fund pre-clinical studies to facilitate the commercialization of the technology.
About Bacterin International Holdings
Bacterin International Holdings, Inc. (NYSE MKT:BONE) develops, manufactures and markets biologic products to domestic and international markets. These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain, promotion of bone growth in foot and ankle surgery, promotion of cranial healing following neurosurgery and subchondral repair in knee and other joint surgeries.
Bacterin's Medical Device division develops, employs, and licenses coatings for various medical device applications. For further information, please visit www.bacterin.com.
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