Sanuwave Health completes Celularity’s wound care asset acquisition

11 August 2020 (Last Updated August 11th, 2020 10:43)

Sanuwave Health has completed the acquisition of the wound care assets of the clinical-stage cell therapeutics company Celularity, including its UltraMIST Ultrasound Healing Therapy assets.

Sanuwave Health completes Celularity’s wound care asset acquisition
The acquisition positions Sanuwave to address the complete advanced wound care patient pathway from the start of the treatment to closure. Credit: CommsEditors101 / Pixabay.

Sanuwave Health has completed the acquisition of the wound care assets of the clinical-stage cell therapeutics company Celularity, including its UltraMIST Ultrasound Healing Therapy assets.

Sanuwave has also obtained the partnership rights for Celularity’s wound care biologic products.

The acquisition enables the company to expand its addressable market and bring together energy transfer technologies and biologic skin substitute products to offer an end-to-end product offering platform in the advanced wound care market.

Additionally, the deal is expected to enable Sanuwave to address the complete advanced wound care patient pathway from the start of the treatment to closure.

Moreover, the treatment combination of the UltraMIST and the dermaPACE System is expected to demonstrate improved patient outcomes compared to the existing standard of care, initially for diabetic foot ulcers, and later, for all wound indications.

Sanuwave funded the acquisition through a mix of funded term debt, seller note and equity in the form of a private placement.

The private placement generated gross proceeds of $24m through the issuance of 119,125,000 shares of common stock and accompanying warrants with shares priced at $0.20 each, noted the company.

While existing investors and insiders acquired over 60% of the private placement, the remainder was purchased by healthcare-focused institutional and accredited investors.

HC Wainwright & Co acted as the exclusive placement agent for the private placement, while Lake Street Capital Markets acted as the financial advisor for the acquisition and the private placement.

William Blair & Company was the sole placement agent of debt financing.

In 2011, Sanuwave presented positive data from the Phase III clinical trial of dermaPACE used as a treatment for diabetic foot ulcers.