US-based implantable medical devices developer Tepha has completed the buy-out of its royalty obligation to its former licensor and parent company Metabolix.
In 2008, Tepha and its partners began commercialising implantable medical devices manufactured from poly4hydroxybutyrate (P4HB) in both the US and Europe.
The commercial partners of Tepha are C.R. Bard, B Braun, Wright Medical Group NV, and Galatea Surgical, a wholly owned subsidiary of Tepha focused on the aesthetic plastic surgery market.
Tepha president and chief executive officer Andrew Joiner said: "The buy-out of our royalty obligation in conjunction with Metabolix was financially advantageous for both companies.
"Specifically for Tepha, the cash flow from our savings will help finance the continued development of our core technology as well as pre-clinical and clinical testing of new applications."
P4HB is a biologic polymer generated through a controlled fermentation process.
P4HB constructed devices are found to be less inflammatory, less acidic, more flexible, less brittle, and stronger with implanted strength retention that is compatible with the body's natural healing process, than medical devices made up of other resorbable polymers.
In addition to its present range of P4HB-based fibers, mesh and other constructs, Tepha is expanding its platform to include collagen and antibiotic coatings, high strength multi-filament fiber, and non-woven materials.