Telios deal

Integra LifeSciences Corp., a developer of extracellular matrix devices for tissue repair, signed a letter of intent to acquire the San Diego company for stock it valued at $35 million. Privately held Integra will issue 4 million shares valued at $8.75 per share to various creditors and shareholders of TLIO. Integra will have 24 million shares outstanding on a fully diluted basis after the deal.

Andre Decarie, senior vice president of marketing and sales at Integra, said the Plainsboro, N.J., company is interested in acquiring technologies and businesses that fit its focus of regenerative medicines. "Telios' technology in many areas parallels ours," Decarie said, "and they have a patent position that is appealing." ...