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Ergomed acquires Haemostatix

Ergomed is acquiring Haemostatix from a group of UK-based VC investors including Albion Ventures, Catapult Ventures, Esperante, as well as Nesta and the Wellcome Trust for an initial consideration of GBP8.0 million, with a contingent consideration of GBP20.0 million.

Nottingham based Haemostatix, a spin-out of the University of Nottingham, is a developer of topical clotting agents. The technology is based on a novel class of molecule that binds directly to fibrinogen to promote haemostasis and is targeted at the global surgical bleeding market, worth more than USD2 billion.

The two lead products developed by the Haemostatix team are PeproStat (Phase IIb ready), a blood-free, ready-to-use topical liquid haemostat which is applied to wounds to control bleeding during surgery, and ReadyFlow (pre-clinical), a blood-free, ready to use, transparent and flowable haemostatic gel packaged in a pre-filled syringe.

Christoph Ruedig, Partner at Albion Ventures, says: “Haemostatix has a world-class team and technology.  We are excited that it now has a strong corporate partner who will support it in the future development process. We wish the team the best of luck and look forward to seeing the business fulfil its huge potential.”

Miroslav Reljanovic MD, Chief Executive Officer of Ergomed, says: “The Haemostatix acquisition provides an opportunity to advance our growth strategy through the development of our first proprietary development programme] I have confidence from the current pre clinical and clinical data that the Haemostatix technology works as an effective haemostat. This combined with the rapid development and attractive market potential makes the acquisition a great extension of our co-development portfolio.

JSB-Partners, which offers investment banking and advisory services to biotechnology and pharmaceutical companies, acted as an advisor to Haemostatix Ltd on this transaction.

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