Terumo buys stem cell firm for $70M

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Terumo Americas Holding, a U.S. subsidiary of Japan's Terumo, has entered into a stock purchase agreement to acquire all outstanding shares of Harvest Technologies, a biotechnology developer of point-of-care technologies that allows physicians to derive autologous, adult stem cells from their patients, for $70 million.

The SmartPReP2 APC+ system allows physicians to prepare autologous platelet-rich plasma enriched with growth factors to stimulate the body's healing process for bone and soft tissue wounds, according to the Somerset, N.J.-based Terumo. The SmartPReP 2 BMAC technology platform is a point-of-care device that requires 15 minutes to process and concentrate adult stem cells from a small aspirate of autologous bone marrow. Both applications have been assessed for the treatment of cardiovascular and peripheral artery disease.

The Plymouth, Mass.-based Harvest, which has 61 employees, is focusing its initial commercialization efforts in Europe to support clinical research for the treatment of end-stage critical limb ischemia, a result of peripheral artery disease, which often leads to lower-limb amputation, increased patient morbidity and mortality rates. Harvest also is conducting a 42-patient pilot, randomized, controlled, safety cardiac study of its BMAC system in three U.S. medical centers. The BMAC product is injected into the patient's heart muscle during bypass surgery to study its safety and effectiveness in this patient population.

The acquisition closed on April 29.