Allergan Inc., the Irvine-based maker of Botox and other drugs, has bought a cosmetic surgery business from Medford, Mass.-based Serica Technologies Inc. for an undisclosed price.
Serica’s cosmetic surgery unit makes biodegradable, silk mesh scaffolds that are used to help regenerate human tissue. Its products are used in skin grafting, breast augmentation and reconstructive surgery.
The device maker is “pleased that we further strengthened our pipeline” through the buy, Chief Executive David Pyott said on Allergan’s most recent earnings call last week.
Besides Botox and Natrelle breast implants, Allergan makes lower-face skin fillers, eye drugs, skin drugs and the Lap-Band, a stomach banding system for weight loss.
The company plans to fold Serica into its breast implant unit, which accounted for $77.8 million in revenue in the fourth quarter, up 10% from 2008’s fourth quarter.
Allergan has quarterly sales of about $1 billion.
The company is going to operate Serica out of its office, R&D and manufacturing plant in Medford.
Allergan’s buy of Serica didn’t include rights to the latter’s orthopedic or veterinary products, which were spun off into a separate company, Alacer Biomedical Inc.
Serica was formed in 1998 based on technology that originated from Tufts University in Medford-Somerville, Mass. In its history, it raised just under $24 million in financing from Hong Kong-based Morningside Technology Ventures, Prism VentureWorks of Needham, Mass., and Montvale, N.J.’s Ivy Capital Partners.
