Aastrom Biosciences is picking up Sanofi's Cell Therapy and Regenerative Medicine (CTRM) business for $6.5 million, gaining global commercial rights to three autologous cell therapy products:
Carticel® (autologous cultured chondrocytes), an autologous chondrocyte implant (ACI) marketed in the U.S. for the treatment of articular cartilage defects;
Epicel® (cultured epidermal autografts), a permanent skin replacement for full thickness burns greater than or equal to 30% of total body surface area, marketed worldwide; and
MACI® (matrix-induced autologous chondrocyte implant), a third-generation ACI product marketed in the EU.
The companies say that revenues of Carticel, Epicel, and MACI were $44 million in 2013. Aastrom says it is also getting manufacturing and production centers in the U.S. and Denmark as part of the deal. The firms are planning to close the acquisition in around three weeks.
"The acquisition of Sanofi's CTRM business is a transformative transaction that positions Aastrom as a fully-integrated global regenerative medicine company," Aastrom's CEO and president Nick Colangelo said in a statement. This acquisition comes more than one year after the firm announced it would lay off half its workforce and cut its operating expenses by half after halting a late-stage trial for ixmyelocel-T, a critical limb ischemia candidate, due to problems with patient enrollment.