French health care giant Sanofi (NYSE:SNY) signed a definitive agreement to acquire hydrogel maker Pluromed for an undisclosed amount.
Sanofi plans to commercialize Woburn, Mass.-based Pluromed’s LeGoo polymer plug, an injectable gel used during surgical procedures in place of a clamp or snare.
LeGoo is a water-soluble gel that forms a plug at body temperature to temporarily block blood vessels without damaging them. The product won FDA clearance in October 2011 and also has CE Mark approval in the European Union.
The acquisition bolsters Sanofi’s biosurgery portfolio, which also includes products for osteoarthritis relief, cartilage repair and severe burn treatment, according to a press release.
Pluromed also has FDA clearance for its BackStop polymer gel plug for treating kidneys stones, used during lithotripsy kidney stone treatments that use laser or other energy sources to break up the stones.
Pluromed sold worldwide distribution rights for BackStop, which is also approved in Europe and Canada, to Boston Scientific (NYSE:BSX) just a month after winning the FDA’s OK. The value of that deal was not made public either.
Sanofi, which recently launched an 1st iPhone-friendly blood glucose meter in the U.S., got a little love on Wall Street today. SNY shares were trading 9¢ higher, at $38.92, as of about 10:20 a.m.