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Allergan Aesthetics has entered into a warrant agreement that will give the company an option to acquire Cypris Medical following the completion of a clinical trial evaluating Cypris’ Xact device.
Allergan Aesthetics, an AbbVie company, announces the company has entered into a warrant agreement to acquire Cypris Medical, a private medical device company, according to a press release from Allergan.1
After the completion of a clinical trial that will begin in 2021, Allergan will have the option to acquire Cypris Medical and its Xact device. The clinical trial will investigate the safety and efficacy of Xact in neck lifts and treating midface descent.
"As the market leader in facial aesthetics, Allergan Aesthetics is the ideal partner to lead the advancement and continued development of Xact," said Dan Holton, president and CEO of Cypris Medical. "We share the same vision with respect to product safety, efficacy and data-driven innovation which allow us to offer plastic surgeons and patients new options for aesthetic medicine."
The Xact is a minimally invasive facelift device that works by allowing lifting and suturing of the superficial muscular aponeurotic system (SMAS), the same tissue mobilized in a surgical facelift procedure. This technology provides patients with surgery-like results in the office with minimal to no downtime, according to the press release.
"As a global leader in aesthetics, we are proud to support the research of an innovative device that complements our iconic portfolio of non-invasive treatment options like Botox Cosmetic and our Juvéderm collection of fillers," said Carrie Strom, senior vice president of AbbVie and president of Global Allergan Aesthetics. "We know there is continued unmet need for minimally-invasive procedures for midface descent, and Xact affords us the ability to create a new alternative for our customers so they can continue to offer leading-edge treatments to patients."
1. Allergan Aesthetics Enters Into Option to Acquire Cypris Medical. (2021, January 12). Retrieved January 13, 2021, from https://news.abbvie.com/news/press-releases/allergan-aesthetics-enters-into-option-to-acquire-cypris-medical.htm?view_id=5591