Strata Skin Sciences this week announced that it has acquired Theravant’s TheraClear acne treatment system for $1 million.
Horsham, Pennsylvania-based Strata Skin Sciences makes products to treat dermatologic conditions, and the acquisition expands its offerings to the acne treatment market.
“As we sought to expand and capitalize on our opportunities for medical device treatment of dermatologic conditions, we identified Theravant’s technology as an ideal fit to enter the fast-growing acne market. The acquisition of the TheraClear System provides Strata with a safe and effective technology to complement and/or replace prescription drugs and topical creams,” Strata Skin Sciences president and CEO Robert Moccia said in a news release. “In the U.S. alone, there are an estimated 50 million patients with mild-to-moderate acne. Theravant’s handheld device has the potential to address this market with a revolutionary approach that can be simply and successfully operated by doctors, nurses, aestheticians, and assistants. We look forward to leveraging our strong commercial team to accelerate the growth potential of this exciting technology with an expected launch under the Strata brand by mid-year.”
The acquisition follows Strata’s purchase of Ra Medical’s U.S. dermatology business in August last year.
Under terms of the acquisition agreement, Strata will acquire all assets owned or controlled by Theravant relating to its acne treatment for an upfront payment of $1 million comprised of $500,000 in cash and $500,000 in common stock. The agreement also includes certain milestone-based payments.