Mass High Tech - June 8, 2009

 

Anika signs distribution agreement with Calif. dermatology firm
Mass High Tech

Anika Therapeutics Inc. and California-based Coapt Systems Inc. have signed an exclusive five-year U.S distribution agreement in which Coapt will distribute Anika’s injectable filler for facial lines and wrinkles.

Coapt Systems develops bioabsorbable implants for facial skin renewal. Anika develops products for tissue protection and repair, using hyaluronic acid technology.

Anika (Nasdaq: ANIK) president and CEO Charles Sherwood said in a press release that the two companies shared similarities in product offerings, staff knowledge and “high-energy culture.”

Anika’s injectable filler has received approval in the European Union and Canada. The company is now seeking to expand its skin-care product franchise.

Last November, the company announced that it had ended its contract as the U.S. distributor for Artes Medical Inc.’s Elevess wrinkle filler, resulting in the termination of a projected $1 million to $1.5 million for Anika in anticipated Elevess revenue for 2008.

Last month, Anika reported that ex-vice president of operations at the Bedford-based firm, Franke Luppino, is rejoining the company as chief operating officer.

Anika reported a net profit of $3.6 million on total revenue of $35.8 million in 2008.

Anika Therapeutics Inc. and California-based Coapt Systems Inc. have signed an exclusive five-year U.S distribution agreement in which Coapt will distribute Anika’s injectable filler for facial lines and wrinkles.

Coapt Systems develops bioabsorbable implants for facial skin renewal. Anika develops products for tissue protection and repair, using hyaluronic acid technology.

Anika (Nasdaq: ANIK) president and CEO Charles Sherwood said in a press release that the two companies shared similarities in product offerings, staff knowledge and “high-energy culture.”

Anika’s injectable filler has received approval in the European Union and Canada. The company is now seeking to expand its skin-care product franchise.

Last November, the company announced that it had ended its contract as the U.S. distributor for Artes Medical Inc.’s Elevess wrinkle filler, resulting in the termination of a projected $1 million to $1.5 million for Anika in anticipated Elevess revenue for 2008.

Last month, Anika reported that ex-vice president of operations at the Bedford-based firm, Franke Luppino, is rejoining the company as chief operating officer.

Anika reported a net profit of $3.6 million on total revenue of $35.8 million in 2008.