US pharmaceutical company AbbVie company (NYSE: ABBV) unit Allergan Aesthetics has announced that it has entered into an agreement to acquire Israeli company Luminera Derm, which has a portfolio and pipeline of dermal filler products. No financial details were disclosed but with annual revenue of tens of millions of dollars, the acquisition is likely for several hundred million dollars.
Under the terms of the agreement, Allergan Aesthetics will acquire Luminera's full dermal filler portfolio and R&D pipeline. Based in Lod, Luminera's portfolio includes a complete line of injectable beauty solution- hyaluronic acid based dermal fillers.
Abbvie SVP and president Global Allergan Aesthetics Carrie Strom said,"The addition of the Luminera assets adds innovative technology, complementing our leading JUV DERM filler franchise. We welcome the Luminera team as we continue to build our global aesthetics company and a world-class product offering for healthcare professionals and patients around the world."
Luminera was founded in 2012 by chairman Dr. Dadi Segal and Dr. Eran Goldberg of the Weizmann Institute of Science, and CEO Liat Goldshaid-Zmiri, who was chosen by "Globes" in 2018 as one of Israel's top 40 people under 40.
Segal said, "We believe bringing together key, innovative Luminera assets with the support of Allergan Aesthetics will provide an even brighter future for our people, products and a more expanded offering for our customers. This is a tremendous opportunity to further build, develop and collaborate with a leading global aesthetics company."
Luminera's lead product is HArmonyCa, an innovative dermal filler intended for facial soft tissue augmentation comprised of a combination of cross-linked hyaluronic acid (HA) with embedded calcium hydroxyapatite (CaHA) microspheres. The combination of HA and CaHA in a single product is highly differentiated in the dermal filler category. HArmonyCa is currently commercially available in Israel and Brazil.
Published by Globes, Israel business news - en.globes.co.il - on October 8, 2020
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