Sector News

Health Enterprise East sells spin out to Allergan

November 6, 2015
Life sciences

Health Enterprise East, a provider of business and innovation management services to the NHS and industry, has sold Northwood Medical Innovations to global pharma Allergan for an undisclosed amount.

Founded in 2010 as a spin out of HEE and West Hertfordshire Hospitals NHS Trust, Northwood has developed a minimally invasive pioneering implant technology, earFold, as an alternative to conventional surgery for correcting prominent ears.

The procedure takes just 20 minutes under local anaesthetic as an outpatient, compared to the traditional two hours in general surgery, and overall outcomes are improved with reduced risk of keloid scaring and cartilage damage, less chance of infection, faster recovery times and improved symmetry when both ears are being corrected, according to HEE.

Botox-maker Allergan, which is currently in talks with Pfizer over a potential merger, is intending to commercialise the product widely across Europe, and will continue to explore the regulatory pathways and necessary clinical data requirements for launching the medical device in other countries, including the US.

Revenues from the company’s sale “will be re-invested into ensuring that other pioneering innovations from staff across the NHS are identified, developed and commercialised,” said HEE.

Source: Pharma Times

Related News

April 10, 2021

Genentech aims high with new diversity goals, including doubling hires and spending $1B with diverse suppliers

Life sciences

Quita Highsmith, Genentech’s chief diversity officer, is helping the pharma double down on diversity and inclusion goals with a new 2025 plan. 

April 10, 2021

Merck CEO Frazier joins army of Black execs speaking out on restrictive voting-rights laws

Life sciences

Merck CEO Kenneth Frazier teamed up with former American Express executive Kenneth Chenault to protest a voting-rights law passed recently in Georgia.

April 10, 2021

Zimmer Biomet bundles robotic surgery, apps and digital health programs into one orthopedics package

Life sciences

By bringing together big data and robotic procedures, the ultimate goal of the connected suite is to take some of the guesswork out of orthopedic medicine. 

Send this to a friend