United Kingdom : Allergan to acquire earFold developer.
A major global pharmaceutical and aesthetics company, Allergan plc, has announced that it has entered into a deal to acquire Northwood Medical Innovation Ltd, developer of innovative implant technology, earFold .
An innovative medical device, earFold , is designed for the correction of prominent ears, with or without asymmetry, in patients aged 7 years and older. earFold received a CE mark in April 2015, and has been made available by Northwood Medical Innovation Ltd to trained and certified plastic surgeons, otolaryngologists (Ear, Nose and Throat) and maxillo-facial surgeons, primarily in the UK.
Once the deal is closed with Northwood Medical Innovation Ltd, Allergan plans to commercialise the product widely across Europe, in line with its CE mark, and will continue to explore the regulatory pathways and necessary clinical data requirements to commercialise this medical device in other countries, including America.
Paul Navarre, President and EVP of International Brands at Allergan, said, "Allergan is constantly searching to partner with or acquire companies with disruptive technologies that offer substantive value to our customers, often opening up new categories or setting new trends within our specialist segments. An example of this is the strategic acquisition of KYTHERA, with KYBELLAA (marketed as BELKYRA in Canada) (deoxycholic acid) injection, the only FDA approved non-surgical pharmaceutical treatment for reduction of submental fat, or double chins. earFold technology adds another innovative product to our medical aesthetics product portfolio, especially for the plastic surgeons we serve today, and has the potential to expand the number of patients interested in corrective surgery as it provides an alternative treatment that may appeal to those who have been reluctant to undergo traditional surgical procedures. Many of Allergan's plastic surgery customers currently perform otoplasty procedures, emphasizing our commitment to serving the unmet needs and practice of plastic surgery."
Consultant Plastic Surgeon and developer of the earFold , Norbert Kang, said, "Following a complex outcome after a standard otoplasty procedure, early in my career, I was motivated to develop an alternative approach to correcting prominent ears. In my clinical practice, there are a significant number of patients who are reluctant to undergo surgery and so put up with accepting the social hindrance of prominent ears. The beauty of the earFold treatment system is that it offers an evidenced-based alternative to standard otoplasty surgery that may meet the needs of a wider range of patients, by delivering immediate and predictable results, without the risks associated with general anaesthetic."
[c] 2015 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Date:||Nov 7, 2015|
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