Medical Design and Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Supplies and Components Index
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • MedTech Resources
    • Medtech Events in 2025
    • The 2024 Medtech Big 100
    • Medical Device Handbook
    • MedTech 100 Index
    • Subscribe to Print Magazine
    • DeviceTalks
    • Digital Editions
    • eBooks
    • Educational Assets
    • Manufacturer Search
    • Podcasts
    • Print Subscription
    • Webinars / Digital Events
    • Whitepapers
    • Voices
    • Video
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
    • 2021 Winners
  • Women in Medtech
  • Advertise
  • Subscribe

Gurnet Point buys Innocoll holdings for $209m

April 5, 2017 By Fink Densford

Innocoll Holdings, Gurnet Point CapitalHealthcare investment fund Gurnet Point said today it will acquire Innocoll Holdings for approximately $209 million.

Gurnet will put up $1.75 per share in cash and up to $4.90 in cash from a contingent value right, for a potential share value up to $6.65, the company said.

During the offer period, Gurnet said it plans to provide a $10 million term loan to Innocoll to continue development of its pain-relieving collagen matrix Xaracoll and cover the cost of a new drug application with the FDA.

Xaracoll is Innocoll’s late-stage surgically implantable and bioresorbable collagen matrix designed to provide sustained post-operative pain relieve through the controlled delivery of bupivacaine at the surgical site.

“Gurnet Point intends to work with Innocoll’s team to help bring Xaracoll to market by infusing substantial additional capital for its continued development and regulatory approval. We have great respect for Tony Zook and his team at Innocoll and look forward to investing in the business and assisting with the approval of Xaracoll and its commercialization,” said Christopher Viehbacher, Managing Partner at Gurnet Point Capital.

Innocoll received a refusal to file letter from the FDA last December for Xaracoll, with the agency indicating that the matrix should be characterized as a drug-device combination product and that additional clinical and nonclinical information on Xaracoll could be required. The company said it will look to conduct an additional short-term pharmacokinetic study and several short-term and non-clinical toxicology and biocompatibility studies to provide the information.

The company hopes for a resubmission by the end of the year, with hopes to begin commercialization by the end of 2018 if it receives approval.

“Having studied a number of strategic options over the past several months, our board and management team believe this strategic transaction will give Innocoll access to the financial resources it needs to pursue its goals of bringing Xaracoll through its development to commercialization, and address important unmet medical needs in the post-operative pain market. We believe that the combined leadership of the two companies, supported by Gurnet Point’s financial strength, will better position Innocoll to pursue a successful filing and subsequent commercialization of Xaracoll. The Innocoll directors unanimously support the offer, which represents a significant premium to the recent share price. In addition, the CVR allows shareholders to participate in the continued development of Xaracoll without further investment,” Innocoll chairperson Jonathan Symonds said in a prepared statement.

[Want to stay more on top of MDO content? Subscribe to our weekly e-newsletter.]

Related Articles Read More >

Big 100: Steris logo - Largest Medical Device Companies
Steris discloses pay for top executives and its median employee
This is the logo of Tecomet.
Tecomet earns EU MDR certification
A photo of an FDA employee in the FDA Life Sciences Laboratory I in Building 64, which houses the Center for Drug Evaluation and Research and the Center for Devices and Radiological Health.
Device developers must take action as experts leave FDA
This is the logo of MedTech Innovator.
MedTech Innovator announces 65 startups for its 2025 cohort
“mdo
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest medical device business news, application and technology trends.

DeviceTalks Weekly

See More >

MDO Digital Edition

Digital Edition

Subscribe to Medical Design & Outsourcing. Bookmark, share and interact with the leading medical design engineering magazine today.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
DeviceTalks

DeviceTalks is a conversation among medical technology leaders. It's events, podcasts, webinars and one-on-one exchanges of ideas & insights.

DeviceTalks

New MedTech Resource

Medical Tubing

MassDevice

Mass Device

The Medical Device Business Journal. MassDevice is the leading medical device news business journal telling the stories of the devices that save lives.

Visit Website
MDO ad
Medical Design and Outsourcing
  • MassDevice
  • DeviceTalks
  • MedTech100 Index
  • Medical Tubing + Extrusion
  • Medical Design Sourcing
  • Drug Delivery Business News
  • Drug Discovery & Development
  • Pharmaceutical Processing World
  • R&D World
  • About Us/Contact
  • Advertise With Us
  • Subscribe to Print Magazine
  • Subscribe to our E-Newsletter
  • Listen to our Weekly Podcasts
  • Join our DeviceTalks Tuesdays Discussion

Copyright © 2025 WTWH Media, LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media LLC. Site Map | Privacy Policy | RSS

Search Medical Design & Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Supplies and Components Index
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • MedTech Resources
    • Medtech Events in 2025
    • The 2024 Medtech Big 100
    • Medical Device Handbook
    • MedTech 100 Index
    • Subscribe to Print Magazine
    • DeviceTalks
    • Digital Editions
    • eBooks
    • Educational Assets
    • Manufacturer Search
    • Podcasts
    • Print Subscription
    • Webinars / Digital Events
    • Whitepapers
    • Voices
    • Video
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
    • 2021 Winners
  • Women in Medtech
  • Advertise
  • Subscribe