Aastrom Biosciences, Inc. has entered into a definitive agreement to acquire Sanofi's Cell Therapy and Regenerative Medicine (CTRM) business in a transaction valued at $6.5 million. The acquisition, subject to customary closing conditions, is expected to close in the coming weeks. Sanofi had acquired the CTRM business in 2011 with the Genzyme acquisition.
Aastrom will gain global commercial rights to three autologous cell therapy products, Carticel marketed in the U.S. for the treatment of articular cartilage defects, Epicel, a permanent skin replacement for burns greater than or equal to 30% of total body surface area, which is marketed around the world, and MACI, a third-generation ACI product currently marketed in the EU. Revenues for these three products were $44 million in 2013. Aastrom will also acquire global manufacturing and production sites in the U.S. and Denmark.
"The acquisition of Sanofi's CTRM business is a transformative transaction that positions Aastrom as a fully-integrated global regenerative medicine company," said Nick Colangelo, president and chief executive officer of Aastrom. "The CTRM business brings us global manufacturing, marketing and sales capabilities that are structured to support the current portfolio of marketed products as well as our future product development plans. This transaction also provides us with a platform to generate operating income to support the development of our high-potential pipeline products and continued growth through additional strategic transactions."