The non-binding letter of intent includes the acquisition of UltraMist and exclusive partnership rights for Celularity’s wound care biologic products, according to a news release. Celularity develops allogeneic cellular therapies engineered from postpartum human placenta, in cancer, infectious disease and degenerative disease. Along with the products, 25 wound care professionals are set to join Sanuwave from Celularity.
Suwanee, Ga.-based Sanuwave expects the transaction to close next month and will provide funding for the acquisition with funded term debt and equity. Existing Sanuwave shareholders, directors and officers have committed over $5 million at 25¢ per share to assist.