Mallinckrodt has announced it closed the acquisition of Stratatech Corporation, a privately held regenerative medicine company focused on the development of unique, proprietary skin substitute products. Developmental products include StrataGraft® regenerative skin tissue and a technology platform for genetically enhanced skin tissues.
Under Mallinckrodt's Acquire to Invest operating model, the company will invest in bringing this Phase 3 cutting edge development product to patients. If approved, StrataGraft could be the first biological "off-the-shelf" skin substitute product for treatment of severe burns – Stratatech's proprietary tissue engineering technology produces living tissues designed to mimic human skin and promote tissue regeneration. The technology platform provides potential for new products through genetically enhanced tissues, applied topically, that produce elevated levels of natural wound healing and antimicrobial factors. Phase 1 development is underway in diabetic foot and venous leg ulcers, with other potential applications under consideration.
"We believe this cell-based, differentiated medicine technology has the potential to transform the standard of treatment for wound healing," said Mark Trudeau, Chief Executive Officer and President of Mallinckrodt. "We're excited by these highly durable developmental pipeline additions to our hospital growth business, further diversifying our Specialty Brands portfolio and bringing value to patients with significant unmet medical needs."