In 2010, Olympus bought Stryker's troubled OP-1 putty for $60 million, hoping to expand its market. Now, the Japanese maker of medical devices and cameras says it's selling the Lebanon, NH, plant where the putty is made at a bargain price--and if it can't make a deal it will close the facility.
Investors turned a cold shoulder to CryoLife Thursday after the Atlanta med tech and tissue processing company posted new guidance short of what Wall Street analysts had predicted.
Shire announced Friday it was selling the diabetic foot ulcer treatment to Canton, MA-based Organogenesis, which is not paying anything up front but could pay Shire up to $300 million if it meets sales targets up to 2018. With the deal, Organogenesis, which has its own foot ulcer product, gets the company's current 115,000-square-foot manufacturing plant in La Jolla, CA, but not the new facility.
Shire's once-promising foray into regenerative medicine has largely been a bust, and now the Irish company is handing its costly Dermagraft program to Organogenesis in exchange for little but milestone payments.
The regenerative medicine company Organogenesis is slashing jobs as part of its company-wide reorganization in the face of Medicare's decision to cut what it's paying for its wound-healing medicine Apligraf.
You can now count the Australian government as a major supporter of regenerative medicine research. Prime Minister Kevin Rudd has unveiled a $250 million public/private fund to back new work in the field, taking a stake in early-stage labor that will take years--and years--to pay off.
Few people in the U.K.'s biotech industry have as much influence as Chris Evans. That influence was on full display this week after the high-flying investor took a personal, million-dollar stake in the regenerative medicine company ReNeuron, which is being refinanced and moved to Wales as part of a Welsh government effort to build a biotech hub in the region.
Scientists may have unlocked a way to therapeutically correct genetic defects by using a new technique that targets and repairs defective genes.
Score one for stem cell scientists in the hunt to regenerate human livers. A group from Yokohama City University in Japan has reported that lab-grown human liver "buds" were injected into mice and performed the detoxification functions.
Celgene has invested further in the cash-hungry regenerative medicine specialist Tengion, which tapped the biopharma powerhouse and other backers for a total of $33.6 million to support its two lead programs in early clinical development.