Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

MARION OFFERING $ 8 MIL FOR AMERICAN BIOMATERIALS INC

Executive Summary

MARION OFFERING $ 8 MIL FOR AMERICAN BIOMATERIALS INC. and collagen supplies for its Integra artifical skin development project. Marion is stepping into American Biomaterials' Chapter 11 bankruptcy reorganization proceedings with an offer to purchase the assets of the company, which was founded in 1981 to commercialize bioactive glass, ceramics and composite products. A subsidiary of American Biomaterials, Helitrex, has entered into a development and supply agreement with Marion for collagen material for the artificial skin program. According to a court document in the Chapter 11 proceedings, Marion has submitted a $ 150,000 purchase order for collagen material. During the first year of the contract, Marion will pay American Biomaterials four times the "standard manufacturing cost" for the product, or about $ 5 per gram. Marion has been developing an artificial skin product for almost eight years. It has been in clinical trials for approximately two years. FDA regulates artificial skin as a medical device. Marion is about a year away from submitting a premarket approval application for the product. Under the terms of the agreement, American Biomaterials will manufacture the collagen for Marion on a non-exclusive basis. If necessary, American Biomaterials will grant Marion a right of reference to FDA applications by American Biomaterials for other collagen products. Helitrex currently has several medical use collagen products on the market under the tradename Helistat, including an absorbable collagen hemostatic sponge for use in surgical procedures, an agent for larger bleeding areas and a collagen biopsy wound plug. Marion's offer for American Biomaterials was approved by the New Jersey district bankruptcy court on Aug. 23. The plan is being submitted to shareholders and creditors for a vote. A hearing to confirm the plan is scheduled for Sept. 28.

You may also be interested in...



Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data

Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011

FDA Skin Infections Guidance Spurs Debate On Endpoint Relevance

FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials

Shire Hopes To Sow Future Deals With $50M Venture Fund

Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth
UsernamePublicRestriction

Register

PS014272

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel