Aastrom Announces Definitive Agreement to Acquire Sanofi's Cell Therapy and Regenerative Medicine Business (press release)
Acquisition of Landmark Autologous Cell Therapy Portfolio and Manufacturing Centers in U.S. and Europe Positions Aastrom as a Global Leader in Regenerative Medicine
ANN ARBOR, Mich., April 21, 2014 (GLOBE NEWSWIRE) -- Aastrom Biosciences, Inc. (Nasdaq:ASTM), the leading developer of patient-specific, expanded multicellular therapies for the treatment of severe, chronic cardiovascular diseases, today announced that it has entered into a definitive agreement to acquire Sanofi's Cell Therapy and Regenerative Medicine (CTRM) business for a purchase price of $6.5 million, with $4 million payable in cash at closing and $2.5 million payable in the form of a promissory note. The acquisition is subject to customary closing conditions and is scheduled to close in approximately three weeks.
Through the CTRM acquisition, Aastrom is acquiring global commercial rights to three marketed autologous cell therapy products. Carticel® (autologous cultured chondrocytes) is an autologous chondrocyte implant (ACI) currently marketed in the United States for the treatment of articular...
