Protein Polymer Tech to Acquire Surgica

In a move to diversify its business, Protein Polymer Technologies , Inc. (San Diego, CA, USA), has agreed to acquire Surgica Corp. (El Dorado Hills, CA, USA). Financial details were not disclosed.

Surgica develops and sells embolization products for treating a variety of medical conditions by blocking blood flow to tissues, damaged blood vessels, vascular malformations, fibroids, and tumors. Surgica currently has three FDA-approved polyvinyl alcohol (PVA) product lines. The company's foam embolization products allow for even hydration and fluid suspension properties, which provide for more consistent performance, more precise delivery, and less potential for catheter occlusion. Surgica estimates that the market potential for uterine fibroid embolization could exceed U.S.$200 million in the United States and $300-500 million worldwide. Embolic agents are also used in the treatment of inoperable liver cancer, which has similar market potential.

Upon completion of the acquisition, Surgica will become a division of PPTI. "The acquisition of Surgica would represent an excellent strategic fit and an opportunity for PPTI to transition from a research and development company to one that commercializes innovative products,” explained William N. Plamondon III, CEO of Protein Polymer Technologies. "We believe that adding Surgica's product line will allow us to enter the growing embolization marketplace and will diversify and significantly expand our revenue.”

PPTI focuses on developing technology and products to be used for soft tissue augmentation, tissue adhesives and sealants, wound-healing support, and drug delivery devices.





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