Covidien spinout Mallinckrodt to acquire Stratatech

Mallinckrodt plc (NYSE: MNK) said today that it agreed to acquire Stratatech and its StrataGraft artificial skin graft technology for an undisclosed amount. Mallinckrodt, the pharmaceuticals business spun out of Covidien in 2013, said the deal also includes Stratatech’s development program for genetically enhanced skin. The acquisition is expected to close before the end of the year, the Dublin-based company said. StrataGraft, which is in a Phase III trial for treating deep, partial-thickness burns and a 2nd, Phase II trial for treating severe, full-thickness burns, is a cell-based living tissue designed to mimic the properties of natural human skin. Mallinckrodt said today that it expects to win FDA approval for the deep, partial-thickness burn indication by 2020. The product won “orphan” status from the federal safety watchdog in 2012 and is traveling the biologics license application protocol with the FDA that, if granted, would give Mallinckrodt patent protection until 2032. Stratatech is also working on a Phase I project to develop topically applied, genetically enhanced skin products for treating diabetic foot and venous leg ulcers. The deal also requires Mallinckrodt to maintain its contracts with the U.S. Defense Dept.’s Biomedical Advanced Research & Development Authority and the Health & Human Services Dept., the company said. “The addition of this highly durable, cutting-edge development portfolio and technology platfor...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Mergers & Acquisitions Regenerative Medicine Wall Street Beat Wound Care Covidien Mallinckrodt Stratatech Corp. Source Type: news