DURHAM – Bioventus, a global orthobiologics company based in Durham, is selling a bone morphogenetic protein program to a New York firm that plans to form a new venture around the technology.

Bioventus had acquired the BMP program from Pfizer in 2013.

Viscogliosci Brothers, a private equity firm, acquired the program from Bioventus on financial terms that were not disclosed. Bioventus will have an ownership stake in the new venture and also will have an “observational” board seat, the companies said in the announcement.

Viscogliosi focuses on neuromusculoskeletal technologies.

“Divesting the BMP program gives us the opportunity to increase the R&D investment in other areas of our portfolio to support additional short and mid-term programs, while maintaining a stake in its development,” said Tony Bihl, CEO of Bioventus. “We now expect to leverage resources to make additional investments that will expand and grow our portfolio in osteoarthritis, surgical and non-surgical bone healing.”