Kensey Nash Corporation has acquired the assets of Nerites Corporation for $20m in cash. An adhesive-based biomaterials technology platform from Nerites would provide Kensey penetration into the regenerative medicine markets covering neurosurgery, orthopaedics, soft tissue surgical repair, spine surgery and sports medicine.

Kensey intends to develop and integrate the acquired adhesive, sealant and coating technologies into its regenerative biomaterials business in addition to develop new surgical sealant and adhesive products.

The acquisition of this technology will allow Kensey to develop a portfolio of next generation hybrid adhesive-based products that integrates its extracellular matrix, collagen and polymer technology platforms used in general, cardiovascular,
neurologic, orthopaedic, plastic/reconstructive, thoracic and urologic surgical specialties.

Initially, Kensey is planning to develop devices for repairing defects in abdominal walls, dural membranes and gastrointestinal tracts with sales revenues not expected for at least three to five years.

Kensey intends to explore use of the Nerites anti-fouling technology to prevent bacterial biofilm formation.

Kensey Nash president and CEO Joseph Kaufmann said with this acquisition the company will initially target the hernia and dura repair markets.