Serica Technologies

About Serica Technologies

Serica Technologies Inc. was a medical device company focused on developing a biomaterial platform based on silk for applications in tissue repair. Founded in 1998 by Gregory H. Altman, Ph.D., under the initial name Tissue Regeneration, Inc., the company originated from research conducted at Tufts University. The founding of the company was directly influenced by Altman's personal experience of rupturing his Anterior Cruciate Ligament (ACL) while playing varsity football, which steered his doctoral work in biomedical engineering toward creating a tissue-engineered ligament. This research evolved to focus on the broader potential of silk-based biomaterials. Serica Technologies developed biodegradable silk-based scaffolds designed for the regeneration of soft tissue damaged by trauma, disease, or aging. The company's flagship product was the SERI® Surgical Scaffold, a silk-based, knitted multifilament scaffold for soft tissue support and repair. This product facilitated the generation of native, well-vascularized tissue. The company's portfolio also included SeriGel, a bioresorbable silk hydrogel for plastic and reconstructive surgery; SeriFascia, a surgical implant; SeriACL graft for ligament repair; and SeriCuff for rotator cuff tendon repair. In February 2009, Serica received 510(k) clearance from the U.S. Food and Drug Administration for its SeriScaffold technology. The company's business strategy was to leverage its versatile biomaterial platform to create multiple products addressing unmet clinical needs in orthopedics, sports medicine, and aesthetic and reconstructive plastic surgery. After raising less than $24 million from investors including Morningside Technology Ventures, Prism VentureWorks, and Ivy Capital Partners, Serica Technologies was acquired by Allergan, Inc. in February 2010. Following the acquisition, Serica became a wholly owned subsidiary of Allergan, continuing its operations from its Medford, Massachusetts facility. As part of the deal, Serica's stockholders received cash and equity in a new entity, Alacer Biomedical Inc., which retained exclusive rights to Serica's intellectual property for orthopedic and veterinary applications.