Allergan has bought Serica Technologies Inc. of Medford, Mass. The dollar value of the deal wasn’t disclosed. Serica shareholders received cash plus equity in a new company, Alacer Biomedical Inc., which holds exclusive rights to Serica’s intellectual property for orthopedic and veterinary uses. Serica has developed a biodegradable, silk-based material to repair connective tissue. Allergan’s best-known product is Botox.

Serica will remain in Massachusetts, where it was founded in 1998 based on technology originating at Tufts University near Boston. Serica had raised less than $24 million from individual investors and venture capitalists Prism VenturWorks, Morningside Technology Ventures and Ivy Capital Partners.