Healthpoint Biotherapeutics Officially Takes Smith & Nephew Name
December last year, British orthopedic device company Smith & Nephew acquired Fort Worth, Texas-based Healthpoint Biotherapeutics, a wound care company, in a $782 million cash deal. A year later, Healthpoint is now making the transition to the Smith & Nephew name, taking on the parent company’s identity for future business. Healthpoint will now be known as Smith & Nephew Biotherapeutics.
At the time of the acquisition, Smith & Nephew officials said they would integrate Healthpoint into its wound management division gradually, so as not to disrupt business.
“Assuming the Smith & Nephew name reflects the evolution of our organization as a biotherapeutic leader now operating within a multinational organization,” said Rob Bancroft, president of Smith & Nephew Biotherapeutics. “As well as continuing to market our existing products such as Santyl, we will retain our focus on the development and commercialization of novel, cost-effective biopharmaceuticals for dermal repair and regeneration.”
Smith & Nephew Biotherapeutics’ research and development strategy is centered around therapeutic enzymes, biologics and next-generation cell- and cell-matrix based therapies for the prevention and treatment of acute, chronic and burn-related wounds.
According to the company, bioactives are a rapidly growing area of wound care. Greater understanding of wound biology is driving the development of new biopharmaceuticals designed to stimulate the body’s own regenerative processes.
When the acquisition was first announced, Smith & Nephew officials said the company intended to build upon Healthpoint’s strong presence in the United States. As stated last year, the business will continue to be headquartered in Fort Worth.
Over the next five years, Smith & Nephew intends to fund in the Biotherapeutics unit’s research and HP802-247 Phase 3 trials and commercialization. This is expected to drive annual research and development spend in the medium term to around $40-50 million per year.