12:00 AM
Feb 24, 2003
 |  BioCentury  |  Strategy

IsoTis looking to acquire

Following its merger with Modex Therapeutics Ltd. last year, biosurgery company IsoTis S.A. has undergone a transformation that has involved a 31% cut in headcount, a redefinition of its pipeline and a saving of 50% on anticipated 2003 costs. Last week, ISON revealed its strategic focus for the next three years. It includes moving away from tissue engineering to focus on orthobiology and biomaterial devices instead of biological solutions, and growth through M&A.

IsoTis N.V., based in the Netherlands, and Switzerland's Modex Therapeutics Ltd. merged in an all share deal to form IsoTis (SWX:ISON; Euronext:ISON, Lausanne, Switzerland)(see BioCentury, Sept. 30, 2002). After assessing the potential of its internal programs, ISON dropped its small molecule and peptide programs in dermatology, as well as its autologous skin and cartilage products.

"On a P&L basis these products were not profitable and we decided to cut...

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