May 12, 2006

BioMimetic Therapeutics, Inc. Announces Pricing of Initial Public Offering

Franklin, Tenn. – May 12, 2006 - BioMimetic Therapeutics, Inc. (NASDAQ: BMTI) announced today that it has priced its initial public offering of 4.6 million shares of its common stock at $8.00 per share.

The shares will commence trading May 12, 2006, on the NASDAQ National Market under the symbol BMTI. BioMimetic Therapeutics, Inc. has granted the underwriters a 30-day option to purchase an additional 690,000 shares of its common stock to cover over-allotments, if any. Deutsche Bank Securities Inc. will be acting as the sole book-running manager of this offering, Pacific Growth Equities, LLC will be acting as the co-lead manager and First Albany Capital, Inc. and AG Edwards & Sons, Inc will be co-managers. Shares are being offered only by prospectus. Copies of the prospectus may be obtained from Deutsche Bank Securities Inc. at 60 Wall Street, New York, New York 10005, (212) 250-2500.

About BioMimetic Therapeutics
BioMimetic Therapeutics, Inc. is developing and commercializing bio-active drug-device combination products for the healing of musculoskeletal injuries and disease, including periodontal, orthopedic, spine and sports injury applications. BioMimetic received marketing approval from the FDA for its first product as a grafting material for bone and periodontal regeneration following completion of human clinical trials, which demonstrated the safety and efficacy of its platform technology in this indication. The Company's product and product candidates all combine recombinant protein therapeutics with tissue specific scaffolds to actively stimulate tissue healing and regeneration.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 10, 2006. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current intent and expectations of the management of BioMimetic Therapeutics, Inc. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. BioMimetic's actual results and the timing and outcome of events may differ materially from those expressed in or implied by the forward-looking statements because of risks associated with our unproven preclinical and clinical development activities, regulatory oversight, intellectual property claims, litigation and other risks. Except as required by law, BioMimetic undertakes no obligation to update any forward-looking or other statements in this press release, whether as a result of new information, future events or otherwise.

For further information, visit www.biomimetics.com or contact Kearstin Patterson, manager corporate communications, at 615-236-4419.