Sanofi ($SNY) has scooped up Pluromed in a buyout that benefits the biosurgery unit the company acquired from Genzyme. The French drug giant plans to add privately held Pluromed's FDA-approved surgical gel to its biosurgery product portfolio through the purchase. Financial details of the deal weren't revealed.
"The acquisition of Pluromed underscores Sanofi's commitment to strengthen its biosurgery portfolio," Alison Lawton, senior vice president and general manager of Sanofi Biosurgery, said in a statement. "LeGoo is a breakthrough technology with the potential to change the paradigm of vascular and cardiovascular surgical procedures by providing fast, temporary control of blood flow while avoiding vessel trauma associated with standard of care."
Sanofi's main motivation for its $20.1 billion buyout of Genzyme last year was to acquire the Cambridge, MA-based biotech's multibillion-dollar business of selling biologic treatments for rare genetic diseases. Yet the biosurgery business, which is also headquartered in Cambridge, brought in $700 million in sales in 2011, and Sanofi sees an opportunity to invest in the future of the unit, company spokeswoman Sarah Connors told FierceBiotech.
- here's Sanofi's release
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