Smith & Nephew increases stake in ATS (Advanced Tissue Sciences):
This article was originally published in Clinica
Executive Summary
Smith & Nephew has increased its stake in Advanced Tissue Sciences (ATS) to approximately 8%, following the conversion of a $10 million loan from Smith & Nephew to approximately 2.8 million shares of ATS common stock. The two companies have collaborative agreements in two areas: one covers the use of ATS' tissue engineering technology in Smith & Nephew's Dermagraft and TransCyte products, while the other covers the joint development of tissue-engineered orthopaedic cartilage.