Celling Biosciences, based in Austin, Texas, acquired all the assets and stock of ThermiGen, the aesthetic device division of Spanish pharmaceutical leader Almirall. ThermiGen, founded in Dallas in 2012, commercializes a unique line of radiofrequency-based devices utilized by plastic surgeons, dermatologists, obstetricians/gynecologists and cosmetic physicians. Thermi has a strong base of over 2,000 users and generated $18 MM of net sales in 2018.
Celling will incorporate the Thermi product line as part of its expansion into the women’s health and aesthetics markets. Kevin Dunworth, CEO stated, “We’ve been active in the orthopedics world, where we make substrates and devices to load these substrates with the patient’s own cells to provide healing solutions for joint and musculoskeletal pain. We have also been involved in the plastic surgery arena but in ways to offer more minimally-invasive reconstructive solutions. Our research and development teams are pursuing next-generation devices to marry medical devices with biologics in many different healthcare applications,” he said. As more studies are published showing the increase in safety and efficacy of autologous cell therapy, physicians are adopting these new treatment options for the restoration of distressed and aging tissue. Celling recently built a multi-million dollar laboratory in Austin to research and develop safe and effective methods of treating aesthetics procedures that would utilize Thermi’s systems and cell therapy.
Celling believes that women’s health continues to be an overlooked market segment in healthcare and believes that the market is going to achieve a much higher growth rate in the coming years. “Women play a larger role in healthcare decisions, especially in taking a proactive approach to wellness. Also, with minor changes to the algorithms used in Thermi systems, we think we can develop additional devices for use in orthopedics and pain management.” The merging of the Thermi product line with the cutting-edge technology of Celling, will fast track the evolution of micro-invasive, preventative and regenerative treatments across the healthcare spectrum. Celling is in the process of acquiring other technologies and companies around all applications of medicine to build a comprehensive autologous cell therapy company.
Date: April 15, 2019
Source: Yahoo Finance