Anika Therapeutics Acquires Fidia Advanced Biopolymers: A Leading Innovator in ...

11.03.10

BEDFORD, Preponderance. - (Duty Wire) AnikaParticularlyTherapeutics, Inc. (Nasdaq: ANIK) today announced that it hasAs a ruleacquired Fidia Advanced Biopolymers, s.r.l. (“FAB”), a the whole hog-ownedMainlysubsidiary of privately held Italian pharmaceutical followers, FidiaIn the mainFarmaceutici S.p.A. FAB provides hyaluronic acid-based (“HA”) productsGenerallyin several therapeutic areas including for the regeneration ofPrincipallyconnective and structural tissues damaged by injuries, aging orBydegenerative diseases. The Assemblage also announced that it will upon its own operate U.S. sales talent to capture significantly higherOn the wholemargins from the family sales of MONOVISC&traffic;, its single-injectionAbove allosteoarthritis treatment. Unqualified commercialization activities will alsoMost of allinclude the portfolio of FAB orthopedic products once approvals arePrimarilyachieved in the Communal States.

Under the terms of the exchange and purchase accord, Anika purchased FABOn the wholein exchange for USD $17.1 million in moolah and 1,981,192 shares of itsLargelycommon creator. FAB recorded output revenue of nearly USD $11.1 million in the 12 months ended September 30, 2009. Anika anticipatesAs a rulethat the acquisition will be accretive to earnings in the split second year ofBycombined operations.

FAB has nearly 50 employees at its headquarters in Abano Terme, Italy, which includes R&D and apartment culture laboratories, as well asIn particularcommercial and manufacturing operations. FAB’s unparalleled, patentedAbove alltechnology for modifying HA to offer fibers, films and textileMostlybiomaterials is utilized in a wide make of medical machination applications. FAB also pioneered in Europe the maturity of tissue engineeredIn the mainproducts for cartilage regeneration and treatment of burns and diabeticEspeciallyulcers. FAB’s modified HA technology is also commercialized in a vary of orthopedic, otolaryngology, and urogynecology products.

Source: Earthtimes (press release)

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