Angiotech Pharmaceuticals Inc has completed its acquisition of NeuColl, Inc, for an all-cash transaction of US$12,894,950. NeuColl is a privately- held orthobiologics company based in Los Gatos, California. Previously, Angiotech had obtained an equity interest in NeuColl through the acquisition of Cohesion Technologies, Inc. on January 31, 2003.
NeuColl will form one of the cornerstones for Angiotech's emerging orthopaedic biomaterials franchise. Its initial product platform is a synthetic bone graft substitute comprised of collagen, a composite material of hydroxyapatite, and tricalcium phosphate, a company release said.
Zimmer Inc has distribution rights for the two lead products, Collagraft and Neugraft Bone Graft Matrixes in the United States, Japan and other countries. Collagraft is sold through independent distributors in Europe. These synthetic biomaterials eliminate the need for a second operative site and the associated trauma of harvesting the patient's own bone (autograft).
NeuColl's materials exhibit excellent biocompatibility and closely mimic the qualities and composition of natural bone. Typical medical applications include total joint replacement surgery, spinal fusion procedures, fracture repair, use as an autograft extender, and as a filler for bone harvest defects.
"NeuColl brings us a robust product line, a strong distribution partner, and significant intellectual property that will allow us to immediately participate in the high growth orthopaedic markets", said Jeanne M Bertonis, chief business officer at Angiotech.