28th April 2023

ConvaTec Group Acquires Tech Platform

Medical products and technologies business Convatec Group has acquired an anti-infective nitric oxide technology platform.

The platform of 30 Technology Ltd includes new product assets and research and development.

In addition to applications in advanced wound care, Convatec will explore application of this technology platform across its business categories.

The technology platform and new product pipeline complement Convatec’s strong advanced wound care portfolio and strengthen its ability to provide best-in-class services for patients. Other potential applications for this technology include the prevention of urinary tract infections as well as other transformative applications.

The technology being acquired is supported by a small talented technical and leadership team, located in Oxfordshire, which will transfer to Convatec.

Under the terms of the agreement, 30 Technology retains the rights to respiratory medicine, animal health, oral surgery, and a range of other therapeutics applications.

Dr Divakar Ramakrishnan, chief technology officer and head of research & development at Convatec, said: “This nitric oxide-based technology platform represents a unique natural antimicrobial and antibiofilm mode of action that is based on compelling scientific and clinical data as well as knowhow.

“We are excited to welcome new colleagues to Convatec with their technical and translational science expertise. We are looking forward to commercialising this innovative technology, across a variety of medtech device applications starting with Advanced Wound Care. Our leading global research and development, operations and commercial teams are eager to support them in bringing pioneering products to market.”

Syd Hanna, group executive director of 30 Technology, said: “This technology unlocks the potential of nitric oxide to treat a range of infections with a durable and safe treatment. Antimicrobial resistance is one of the key challenges of our time and we believe the technology has significant potential for application across a multitude of increasingly hard to treat conditions. Convatec are exceptionally well placed to commercialise this technology platform.”

The initial consideration paid was £45m. There is an additional milestone payment of £47m due upon regulatory clearances in the US and Europe, and further potential payments of up to £84m based on sales of products during the lifetime of the acquired patents.

Convatec expects to launch the first new product based on this technology, which will be in the Advanced Wound Care market, in 2025.

The transaction will have no impact on the sales and margin guidance for 2023.

Established in 1978, ConvaTec is a developer, manufacturer and marketer of innovative medical products. The company focuses on therapies for the management of chronic conditions.

Convatec has corporate headquarters in Reading but has locations in Deeside, Tredegar, Sunderland, Basingstoke, Cheltenham, Lincoln, Nottingham, Tyne & Wear, Kent and Runcorn.