Bone Biologics completes merger with AFH Acquisition X
Bone Biologics, a California-based company developing a proprietary protein for use in bone regenerative medicine using the patented recombinant human protein known as UCB-1 (or Nell-1) for use with patients undergoing spinal fusion, has completed a reverse merger with AFH Acquisition X, a fully-reporting company with the Securities and Exchange Commission. The combined company changed its name to Bone Biologics.
The Musculoskeletal Transplant Foundation (MTF), a nonprofit organization based in Edison, N.J., remains the largest shareholder. Bruce Stroever, president and CEO of MTF, will become chairman of the Bone Biologics board and Michael Schuler, MTF's vice president of new business development, will be CEO. William Jay Treat, Ph.D., was appointed the company's president and chief technology officer.
Nell-1, a bone growth factor, has been developed by Bone Biologics in partnership with University of California, Los Angeles (UCLA) as a more specific alternative to other bone growth factors used in health care today. The next phase will be completing the development and testing needed to seek regulatory approval for the initial pilot study in human clinical trials.