Allergan Acquires Orthotec Firm Serica

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.

February 18, 2010

1 Min Read
Allergan Acquires Orthotec Firm Serica

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.

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