Company Expands Silk-Based Medical Technology Platform for Soft Tissue Repair
Cambridge, Mass. — November 11, 2016 — Sofregen Medical Inc., an innovative company committed to advancing silk-based medical technologies to address soft tissue defects, today announced the acquisition of SERI® Surgical Scaffold product line from Allergan plc. Polaris Partners and other founding investors provided financing for the transaction. Terms of the deal were not disclosed.
The acquisition strategically aligns with Sofregen’s vision of advancing a variety of silk-based solutions to treat patients with soft-tissue defects. SERI®, which is currently utilized for soft tissue support in plastic and reconstructive surgical procedures, is the only silk-based surgical mesh approved for soft tissue support and repair. Through bio replacement, SERI® facilitates neovascularization and native tissue generation over time, providing lasting support and strength. Seri® has been successfully used in over 10,000 surgical procedures requiring surgical mesh. Sofregen also has a pipeline of novel, injectable, silk-based products currently under development. Howard Weisman, Chairman of Sofregen Medical Inc., expressed his enthusiasm for the promise of this pioneering technology:
“Silk has proven to promote regeneration of the body’s own tissue, allowing for tremendous potential to effectively repair both disfiguring injuries and delicate defects,” said Weisman. “The global market for products to address soft-tissue aesthetics is estimated to reach $5 billion next year. We are excited to be adding the SERIÒ product line to our platform, and look forward to continuing to help surgeons who are eager to restore confidence and improve the quality of life for patients around the world.”
Chris White, Sofregen’s incoming President and Chief Operating Officer, described organizational expansion plans to support SERI® in the marketplace:
“As the new supplier of SERI® Surgical Scaffold, Sofregen is committed to meeting the needs of customers without disruption,” said White. “We are bolstering our commercial organization, adding field-based sales representatives and medical affairs personnel, to support the SERI® product line with outstanding service. We look forward to connecting with customers as we continue to innovate and grow.”
For additional information about SERI® products and services, please visit www.seri.com.