November 16, 2020 -- Catalent Pharma Solutions has completed the acquisition of Bone Therapeutics' manufacturing subsidiary, Skeletal Cell Therapy Support.
Following the completion of the transaction, Skeletal Cell Therapy's manufacturing infrastructure and production operating teams have become a part of Catalent's Cell and Gene Therapy division.
Under the terms, Catalent acquires Skeletal Cell Therapy for $14.2 million. The transaction generates net proceeds of approximately $7.1 million for Bone Therapeutics. The transaction excludes any intellectual property rights.
Bone Therapeutics and Catalent are currently involved in some supply agreements, and the acquired manufacturing entity will continue to service the production of ALLOB, Bone Therapeutics' allogenic cell therapy product, for Bone Therapeutics and its partners.
Bone Therapeutics will focus its strategy on the development of products from its differentiated mesenchymal stromal cell platform of cell and gene therapeutic targets for orthopedics and other indications.