Synthes to market and sell Kensey Nash's biomaterials

Deal summary reprinted from Strategic Transactions - August 2009

Regenerative medicine firm Kensey Nash will use its extracellular matrix (ECM) technology to develop and manufacture porcine dermis-derived tissue, which Synthes (orthopedic devices) will market and distribute for certain reconstructive surgery applications. Read more...

Deal summary reprinted from Strategic Transactions - August 2009

Kensey Nash's ECM technology can disinfect pig dermis tissue, eliminate any viruses, and remove cells. Once this process is completed, what remains is a matrix comprised of functional biomaterials such as collagen, elastin, and proteins that rapidly revascularize. As the matrix breaks down, it releases other biomolecules that continue the healing process. Surgeons can suture the tissues at the injured site with minimal scarring and less risk of rejection by the body. Applications for the ECM products include head, neck, and facial trauma, cerebral or spinal injuries, and abdominal repairs. Kensey Nash expects to receive FDA approval for the biomaterials by year-end and Synthes could launch them by mid-2010.

Other device deals this week:

Acquisition

  Abbott buys rest of Evalve for $320mm plus earn-outs · September 2009
  Merge Healthcare acquires MRI firm Confirma · August 2009

Financing

  TyRx Pharma sells $6.5mm in notes and warrants · July 2009
  Private placement led by Deerfield nets $17.3mm for NeuroMetrix · September 2009

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