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Vericel Corporation

Drug Names(s): Autologous Cultured Chondrocytes

Description: Carticel chondrocytes are used to treat damaged articular cartilage in the knee. The technique employs a proprietary process to grow autologous, or a patient's own, cartilage cells (chondrocytes) for use in repairing damaged knee cartilage in patients who have had an inadequate response to a prior surgical procedure. The cells are implanted into the damaged area of the knee in a surgical procedure called autologous chrondrocyte implantation.

Deal Structure: In October 2010, Sanofi-aventis announced it has commenced a tender offer for all outstanding shares of common stock of Genzyme for $69 per share, net to the seller in cash, without interest and less any required withholding taxes. In April 2011, Sanofi-aventis announced that it successfully completed its exchange offer for all outstanding shares of common stock of Genzyme Corporation.

Aastrom and Sanofi
In April 2014, Aastrom announced that it has entered into a definitive agreement to acquire Sanofi's Cell Therapy and Regenerative Medicine (CTRM) business that includes Carticel, Epicel and MACI for a purchase price of $6.5 million, with $4 million payable in cash at closing and $2.5 million payable in the form of a promissory note. In May 2014, Aastrom completed its acquisition of Sanofi's CTRM business.

In November 2014, Aastrom announced the change of its corporate name to Vericel, effective immediately.

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