The merger will combine the expertise of Axolotl Biologix in regenerative therapies with Carmell’s capabilities in utilising the innate healing properties of the body.
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Axolotl Biologix focuses on progressing regenerative medicines to design and develop human amnion-based allograft products for soft tissue repair, as well as aesthetic and orthopaedic applications.
As per the deal terms, shareholders of Axolotl will receive an initial equity price of $65m, comprising $8m in cash and $57m in Carmell stock on the closing of the transaction.
Axolotl shareholders are also entitled to receive milestone equity payments of up to $75m in the future.
The milestone payments are contingent on meeting specified revenue and business targets and will comprise 12% in cash and 88% in Carmell stock.
With the deal closing, Axolotl will now function as a completely owned Carmell subsidiary.
“This merger with an industry giant like Carmell Therapeutics is a significant development for the future of regenerative medicine.”
The combined business will also possess the scientific proficiency of Carmell and Axolotl’s practical developments.
A regenerative medicine platform company, Carmell develops allogeneic plasma-based biomaterials to enhance innate regenerative pathways for various bone and soft tissue indications.