Carmell to merge with regenerative medicine company Axolotl
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Regenerative medicine company, Carmell Therapeutics, announced the execution of a definitive agreement and plan of merger (the “Merger Agreement”) with Flagstaff-based Axolotl Biologix.
Axolotl develops, designs, and sells products that are human amnion-based, for active soft tissue repair, aesthetics, and orthopedic indications.
Mr. Rajiv Shukla, the Executive Chairman of Carmell said, “I look forward to working with Josh and the Axolotl team to accelerate our goal of building Carmell into an Industry-leading regenerative medicine company through a combination of in-house product development, bolt-on acquisitions and business development aimed at aesthetics/soft tissue and orthopedic indications.”
Carmell Therapeutics is a Phase 2 stage regenerative medicine platform company developing allogeneic plasma-based biomaterials that are designed to boost innate regenerative pathways across a variety of bone and soft tissue indications.
Axolotl CEO Josh Sandberg stated, “I am excited to partner with Rajiv and Carmell to build on our shared vision of offering industry leading products that positively impact patients’ lives. Our teams have worked very diligently, and this transaction creates unlimited possibilities.”
Axolotl focuses on designing, developing and selling human amnion-based allograft products for active soft tissue repair, aesthetics and orthopaedic applications.
After closing the agreement, Axolotl Biologix will operate as a wholly owned subsidiary of Carmell Therapeutics.
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