News Feature | April 23, 2014

Aastrom Biosciences Acquires Sanofi Cell Therapy And Regenerative Medicine Business

By Estel Grace Masangkay

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Aastrom Biosciences announced that it has signed a definitive agreement to acquire Sanofi’s 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 with full thickness greater than or equal to 30 percent of total body surface area. Epicel is marketed worldwide. MACI is a third-generation autologous chondrocyte implant (ACI) product currently commercialized in the E.U.

“Sanofi's CTRM business, a pioneering organization with more than 20 years of experience in cell therapy and regenerative medicine, developed and marketed some of the first regenerative medicine products in the world. We look forward to working with the talented CTRM team to build Aastrom into the leading cell therapy company in the regenerative medicine field,” Aastrom CEO Colangelo said.

Sanofi originally acquired its CTRM business through its acquisition of Genzyme Corp. in 2011.