Madison’s Stratatech to be acquired by UK firm

Madison’s Stratatech to be acquired by UK firm

By Judy Newman, Wisconsin State Journal

StrataGraft is human cell-based skin tissue to treat burn woundsStratatech Corp., a Madison company developing skin tissue products to treat burn victims, will be purchased by Mallinckrodt Pharmaceuticals, a specialty pharmaceutical company based in the United Kingdom.

Terms of the deal, announced Thursday, are not being disclosed. It is expected to finalize before the end of 2016.

“We believe Stratach’s technology has the potential to transform the standard of treatment for wound care,” said Mark Trudeau, CEO and president of Mallinckrodt. “The acquisition will bring world-class Stratatech researchers with deep expertise in cell-based, differentiated regenerative medicine to Mallinckrodt’s research team.”

Stratatech CEO Lynn Allen-Hoffmann, whose research lab at the UW-Madison made the discovery that led to creation of the company, could not immediately be reached for comment.

Founded in 2000, Stratatech, at 505 S. Rosa Road in University Research Park, had 50 employees as of last October. Read more …