BioMimetic Therapeutics Announces Approval to Market GEM 21S in the European Union

BioMimetic Therapeutics, Inc.

announced today receipt of the CE Mark approval of GEM 21S® Growth factor Enhanced Matrix in the European Union. GEM 21S was approved in the EU with broader periodontal and alveolar bone regeneration indications for use than previously approved in the U.S. and Canada. The additional indications approved in the EU are for the treatment of osseous defects resulting from tooth extraction and trauma. Additionally, GEM 21S is approved in the EU for use in compromised patients where poor healing may occur. This approval, obtained on behalf of Luitpold Pharmaceuticals, Inc., triggers a $10 million final milestone payment from Luitpold to the Company. This milestone payment was a condition of the Company's sale of GEM 21S to Luitpold in 2008. The $10 million milestone payment will be in addition to the Company's 2011 year-end cash guidance of $55 to 62 million.