Integra LifeSciences To Buy Telios Pharma
Following board approvals, Integra LifeSciences of New Jersey, USA, is acquiring Telios Pharmaceuticals of California. The acquisition will take place through the issuance of Integra stock along with a plan of reorganization for Telios under the bankruptcy laws.
Integra will issue up to 4 million shares of common stock at $8.75 per share to various Telios creditors and shareholders. The transaction must be completed by July 1.
Both companies are working on tissue repair. Integra is actively developing Integra Artificial Skin and other projects to support the body's natural abilities to repair and heal its own tissues and organs, while Telios has pioneered development of therapeutic products based on extracellular matrix technology, with potential applications in tissue repair, cardiovascular diseases, fibrotic diseases and osteoporosis.
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