Elastagen

About Elastagen

Elastagen Pty Ltd, a clinical-stage medical technology company, emerged from foundational research at the University of Sydney. The company was established in 2008 to commercialize the work of Professor Anthony Weiss, who holds the McCaughey Chair in Biochemistry at the university. Professor Weiss dedicated two decades to pioneering research on tropoelastin, the precursor to elastin, which is a critical protein for tissue elasticity. His work led to the development of a method for producing synthetic, recombinant human tropoelastin that is identical to the naturally occurring protein in the human body. This scientific breakthrough formed the core of Elastagen's technology platform.

The company's primary business was the development of medical device products based on its proprietary tropoelastin biomaterial. This technology has a range of potential clinical applications, primarily within the medical aesthetics and plastic surgery markets. Elastagen's product pipeline included injectable treatments for aesthetic skin repair, atrophic acne scars, and stretch marks, as well as products for surgical wound repair and scar revision. The core benefit of its technology lies in its ability to create a natural environment that supports the body's own cell growth and tissue repair processes, thereby restoring elasticity and improving the skin's structure and appearance. The company's products were progressing through clinical trials in Australia and Europe, with plans for submission for regulatory approval in the EU and an IDE submission for a US clinical study.

Elastagen's journey from a university lab to a significant player in the biotech space was marked by a successful acquisition. In February 2018, the global biopharmaceutical company Allergan plc agreed to acquire Elastagen. The deal involved an upfront payment of US$95 million, with additional contingent commercial payments. The acquisition was a strategic move for Allergan to bolster its medical aesthetics portfolio, particularly complementing its Juvederm collection of fillers by providing a next-generation injectable technology. This event represented one of the largest transactions in the Australian life science sector, highlighting the culmination of years of scientific research and commercial development.