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March 22, 2007
By: Luke Glasner
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Minneapolis, MN-based Medtronic Inc. said its spine business, located in Memphis, TN, entered a development agreement with privately held OsteoGenix Inc. Founded in 2005 in Palo Alto, CA, OsteoGenix is a therapeutic products company developing novel products for accelerating bone repair and bone growth. Financial details were not disclosed. Under the agreement, OsteoGenix will complete work on preclinical trials for its proprietary bone anabolic agent, which is intended to grow new bone, and continue development into clinical trials. Medtronic said it would receive another source of bone growth therapies as part of the agreement.
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