Based on research originally conducted at MIT, Tepha has been purchased by BD for an undisclosed sum.

Tepha, a US-based developer of a resorbable polymer for tissue repair based on research originating at Massachusetts Institute of Technology (MIT), has been acquired by medical technology producer BD. Financial terms have not been disclosed. Tepha has created a polymer that is biodegradable while strong enough to for surgical mesh products, including the surgical scaffolds sold by its subsidiary Galatea Surgical. BD has already been using Tepha’s polymer in its mesh for hernia repair for about a decade. Tepha’s technology was licensed from Metabolix, spun out of MIT in 1982. Metabolix has since shifted its focus to crop yield improvement technologies and rebranded to Yield10 Bioscience in 2017. Tepha had raised just over $50m between 2003 and 2017 according to press releases and securities filings, including $4.3m in a 2004 round led by Vertical Group and backed by pharmautical firm Novartis subsidiary Novartis Venture Fund and Integra Ventures. The same three investors returned for a $10.7m round in 2007 that was also backed by Westfield Life Sciences Fund.

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).