BioCentury
ARTICLE | Company News

Cytomedix acquires Aldagen

February 9, 2012 2:14 AM UTC

Wound and tissue repair company Cytomedix Inc. (OTCBB:CMXI) acquired regenerative cell therapy play Aldagen Inc. (Durham, N.C.) in a stock deal valued at about $16 million. Aldagen shareholders, who will own 17% of the combined company, are also eligible for milestones of up to 20.3 million Cytomedix shares, which are valued at $28.4 million based on Cytomedix's close of $1.40 on Wednesday, before the deal was announced.

Cytomedix said the deal will expand its regenerative medicine portfolio. Aldagen is developing ALD-401, stem cells derived from bone marrow expressing high levels of aldehyde dehydrogenase, which is in a Phase II trial to treat ischemic stroke. Cytomedix's portfolio includes the AutoloGel System, which is marketed to produce platelet-rich plasma (PRP) gel derived from a patient's own blood for use on a variety of exuding wounds. ...