Allergan Aesthetics, an arm of the US firm AbbVie, has signed an agreement to acquire Israel’s Luminera, a privately held aesthetics company that develops dermal filler products.
Under the terms of the agreement, Allergan Aesthetics will acquire Luminera’s full dermal filler portfolio and R&D pipeline, which will complement Allergan Aesthetics’ existing dermal filler portfolio, the US firm said in a statement. No financial details were disclosed, but Globes financial website estimated the deal at several hundred million dollars.
Founded in 2013, the Lod, Israel-based Luminera is a manufacturer as well as an R&D company for injectable medical devices in the aesthetic medicine field. Its calcium hydroxyapatite fillers stimulate the body’s generation of its natural collagen fibers, giving the skin a volume boost that can last up to two years, the company’s website says.
Hyaluronic acid is known for its ability to retain water and assist in transporting vital nutrients to the skin tissue. Age causes a natural degradation of hyaluronic acid in the body, and hyaluronic acid products can help restore smoothness and glow to the skin, the website said.
Luminera’s key product is HArmonyCa, an innovative dermal filler meant for the face that combines cross-linked hyaluronic acid (HA) with embedded calcium hydroxyapatite (CaHA) microspheres. HArmonyCa is currently commercially available in Israel and Brazil. Allergan Aesthetics will continue to develop Luminera’s product for its international and US markets, the statement said.
“The addition of the Luminera assets adds innovative technology, complementing” the US firm’s franchise, said Carrie Strom, a senior vice president at AbbVie. “We welcome the Luminera team as we continue to build our global aesthetics company.”
Luminera chairman Dadi Segal co-founded the firm with Eran Goldberg, its chief technology officer and the CEO, Liat Goldshaid-Zmiri.
“Bringing together key, innovative Luminera assets” with those of Allergan Aesthetics will enable “a more expanded offering for our customers” and is an opportunity to “further build, develop and collaborate” with a global aesthetics company, Segal said in the statement.