Kensey Nash purchases surgical sealant technology for $20M

Exton, PA-based Kensey Nash has purchased the assets of a medical adhesive company, Nerites, for $20 million in cash. The move helps Kensey delve further into regenerative medicine markets through Nerites' surgical sealant and wound closure technologies, which was inspired by marine mussels' protein secretion that bonds them to underwater surfaces.

"We are very excited about this acquisition," said Joseph Kaufmann, president and CEO of Kensey Nash, in a release. "The Nerites technology will integrate well with Kensey Nash's existing biomaterial capabilities and technologies, providing many opportunities for next generation products currently in the market and expanding our development pipeline as well as opportunities for additional strategic partnerships."

Kaufmann plans on focusing on hernia and dura repair markets by creating a new surgical sealant fom Nerites' current technology. Kensey will also explore the acquired anti-fouling technology that can prevent bacterial biofilm formation that can cause infection in healing patients.

- see the Kensey Nash release