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Print Edition StoriesThursday, December 31, 2009
Anika pays $17M for Italian tissue regeneration firm
By Mass High Tech staff
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Bedford-based tissue products company Anika Therapeutics Inc. has acquired Fidia Advanced Biopolymers srl (FAB) for $17.1 million in cash and almost 2 million shares of common stock. Fidia, a connective and structural tissue regeneration firm, is a wholly owned subsidiary of Italian pharmaceutical firm Fidia Farmaceutifi SpA.
Anika, which makes products for tissue protection and repair based on hyaluronic acid technology, expects to expand its products to include regenerative tissue products. In addition to the acquisition, Anika officials also announced a plan for direct U.S. sales of Monovisc, the company’s single-injection osteoarthritis therapy, as well as FAB’s orthopedic products, presuming U.S. FDA approval.
FAB employs 50 workers in Italy, where it houses its R&D laboratories and commercial and manufacturing operations. The Italian company is responsible for developing hyaluronic acid to make biomaterials suited for medical devices and orthopedic products. It also has developed tissue regenerated products aimed at treating burns and diabetic ulcers.
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