UK Group Buys Israeli Developer Of Algae-Based Medical Solutions Sealantis For $25M

UK-based Advanced Medical Solutions (AMS) announced  the acquisition last week of Israeli medical device company Sealantis for $25 million in cash, with royalties on future sales.

Sealantis develops products based on a proprietary platform of alga-mimetic tissue adhesives for a wide variety of applications and clinical needs including surgical adhesion, leakage control, adhesion-prevention, and drug delivery. The adhesives mimic the underwater adherence mechanism of algae and can be used to reduce or prevent leakage of blood and other bodily fluids, to help with tissue adhesion and space-elimination in esthetic surgery, and act as a drug carrier.

Sealantis’ two most advanced surgical sealant products are Seal-G, an open surgery device already CE marked that seeks to minimize anastomotic leaks following gastrointestinal surgery, and Seal-G MIST, the equivalent laparoscopic device for the same indication but performed through keyhole surgery, according to a company release.

AMS is an independent developer and manufacturer of advanced products for the global surgical and wound closure markets, and it sells its products in more than 75 countries.

Sealantis is set to become an R&D Center for AMS which said it will continue to “invest in the existing Sealantis innovation center and accelerate the commercialization of the laparoscopic and open variants of Seal-G.”

Chris Meredith, CEO of Advanced Medical Solutions, said in a statement: “This acquisition is in line with our strategy to acquire technologies that are complementary to our surgical portfolio as well as allowing us to leverage our global routes to market. The acquisition enhances our access to a significant and high-margin market in internal surgery, which includes areas of unmet need for effective and absorbable internal sealants, a market estimated at $1 billion.”

“We are particularly excited to welcome Sealantis’ innovation team of R&D experts to AMS and look forward to working alongside them to develop the technology in a wide range of potential applications and indications. As we work towards the commercialization of Seal-G Surgical Sealant over the next 18 months, we expect to maximize the full value of the platform and this innovative technology. AMS continues to actively monitor and evaluate other acquisition opportunities to capitalize on its strong financial and strategic position,” he added.

Sealantis was founded in 2007 by biopolymers expert Professor Havazelet Bianco-Peled after the alga-mimetic tissue adhesive technology was discovered by the Technion – Israel Institute of Technology. It and has since been extensively tested and developed for clinical use by Sealantis’ R&D team.