Robert Daniels

Allergan to Acquire Elastagen to Access Next Generation Injectable Portfolio

Sydney-based tropoelastin biotech Elastagen agreed to an Allergan takeover offering US$95 million upfront plus contingent payments; the GBS Ventures-backed company previously drew MDF and federal grant funding.

Also GBS Ventures

Cell Innovation Partners, Japanese venture group, invests in Elastagen as part of a Second Close to the Series B Equity Financing.

Cell Innovation Partners invested A$1 million in Sydney biotech Elastagen within a second close of its A$14 million Series B, with AMOREPACIFIC Ventures, Korea Investment Partners and the Wellcome Trust also joining the round.

Elastagen Completes A$13m Series B Equity Financing

Sydney clinical-stage medical company Elastagen closed a A$13 million Series B, adding KIP, AMOREPACIFIC Ventures and Wellcome Trust to its existing backers; KIP's Sangwoo Lee joined the board.

Elastagen Expands Clinical Program for Elastin Products.

Sydney medical device company Elastagen completed a first-in-human study of its synthetic elastin skin products and plans two further trials, targeting a European launch in early 2013.