OR WAIT 15 SECS
Aastrom Biosciences will acquire Sanofi's CTRM business for $6.5 million.
Aastrom Biosciences, a developer of patient-specific, expanded multicellular therapies for the treatment of severe, chronic cardiovascular diseases, reported that it has entered into an agreement to acquire Sanofi's Cell Therapy and Regenerative Medicine (CTRM) business for $6.5 million, with $4 million payable in cash at closing and $2.5 million payable in the form of a promissory note. The acquisition is subject to customary closing conditions and is scheduled to close in approximately three weeks.
Through this acquisition, Aastrom is acquiring commercial rights to three marketed cell therapy products. These products include Carticel, an autologous chondrocyte implant currently marketed in the US for the treatment of articular cartilage defects, Epicel, a permanent skin replacement for burns greater than or equal to 30% of total body surface area, and MACI, a third-generation ACI product currently marketed in the EU. Aastrom will also acquire manufacturing and production centers located in the US and Denmark.
Sanofi acquired the CTRM business in 2011 through the acquisition of Genzyme Corporation.
Source: Aastrom Biosciences