Acquisition 'to move Shire into regenerative medicine market'
27 May 2011
Posted by Jayne Kavanagh
The purchase of Advanced BioHealing will see biopharmaceutical giant Shire enter the regenerative medicine market.
According to Shire, the move will allow it to create a new unit focused on employing cell-based therapies in tissue regeneration.
The $750 million (£457 million) cash acquisition of Advanced BioHealing includes Dermagraft, a product marketed in the US for slow healing diabetic foot ulcers, which can lead to lower limb amputation in some cases if they are not effectively treated.
Shire predicts the treatment has "further growth potential" and more value could be created from Dermagraft.
Mike Cola, Shire's Specialty Pharmaceuticals President, said: "We will invest in the strengths of Advanced BioHealing's specialist commercial team, its manufacturing and its product development."
In related news, regenerative medicine company Avita Medical has announced that it has commenced the commercialization of its ReCell Spray-on-Skin product, rolling it out to clinicians across the Middle East for the treatment of burns, pigmentation, scarring and rejuvenation.