By Estel Grace Masangkay Aastrom Biosciences announced that it has signed a definitive agreement to acquire Sanofis Cell Therapy and Regenerative Medicine (CTRM) business for $6.5 million. Sanofi will receive $4 million in cash at closing and $2.5 million in promissory. The transaction is subject to customary closing conditions and is expected to be completed in about three weeks. Nick Colangelo, president and CEO of Aastrom, said, The acquisition of Sanofi's CTRM business is a transformative transaction that positions Aastrom as a fully-integrated global regenerative medicine company. 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. Through its acquisition of CTRM, Aastrom acquires global rights to three marketed autologous cell therapy products. These are Carticel (autologous cultured chondrocytes), Epicel (cultured epidermal autografts), and MACI (matrix-induced autologous chondrocyte implant). Carticel is approved and marketed in the U.S. for the treatment of articular cartilage defects. Epicel is a permanent skin replacement for burns … Continue reading →