Vericel

Last updated
Vericel Corporation
FormerlyAastrom Biosciences, Inc.
Company type Public
Nasdaq:  VCEL
Russell 2000 component
S&P 600 component
IndustryBiotechnology
Founded1989;35 years ago (1989) in Ann Arbor, Michigan, United States
Headquarters,
United States
Number of locations
2
Key people
  • Nick Colangelo (CEO)
  • Daniel Orlando (COO)
  • Gerard Michel (CFO)
Products
  • MACI
  • Epicel
  • Carticel

Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan. [1]

In the spring of 2014, Aastrom Bio acquired Sanofi's cell therapy and regenerative medicine business which Sanofi had acquired when purchasing Genzyme in 2011. [1] This transformed Aastrom in several ways: it increased the employee count by 8-fold and provided a revenue stream and products to market, which it had not had before. [1]

In October 2014, the company changed its name from Aastrom Bio to Vericel and relocated its headquarters from Ann Arbor, Michigan to Cambridge, Massachusetts. [1]

Related Research Articles

<span class="mw-page-title-main">Ann Arbor, Michigan</span> City in Michigan, United States

Ann Arbor is a city in and the county seat of Washtenaw County, Michigan, United States. The 2020 census recorded its population to be 123,851, making it the fifth-most populous city in Michigan. It is the principal city of the Ann Arbor metropolitan area, which encompasses all of Washtenaw County and had 372,258 residents in 2020. Ann Arbor is also included in the Metro Detroit combined statistical area and the Great Lakes megalopolis.

<span class="mw-page-title-main">Hoechst AG</span> German chemicals company

Hoechst AG was a German chemicals, later life sciences, company that became Aventis Deutschland after its merger with France's Rhône-Poulenc S.A. in 1999. With the new company's 2004 merger with Sanofi-Synthélabo, it became a subsidiary of the resulting Sanofi-Aventis pharmaceuticals group.

Sanofi S.A. is a French multinational pharmaceutical and healthcare company headquartered in Paris, France. The corporation was established in 1973 and merged with Synthélabo in 1999 to form Sanofi-Synthélabo. In 2004, Sanofi-Synthélabo merged with Aventis and renamed to Sanofi-Aventis, which were each the product of several previous mergers. It changed its name back to Sanofi in May 2011. The company is a component of the Euro Stoxx 50 stock market index. In 2023, the company’s seat in Forbes Global 2000 was 89.

<span class="mw-page-title-main">Chiroscience</span>

Chiroscience Group Plc was a British-based biotech company, founded by Christopher Evans. The company was taken over by Celltech in 1999, which was acquired in 2004 by UCB.

<span class="mw-page-title-main">Ann Arbor Railroad (1895–1976)</span>

The Ann Arbor Railroad was an American railroad that operated between Toledo, Ohio, and Elberta and Frankfort, Michigan with train ferry operations across Lake Michigan. In 1967 it reported 572 million net ton-miles of revenue freight, including 107 million in "lake transfer service"; that total does not include the 39-mile subsidiary Manistique and Lake Superior Railroad.

MLive Media Group, originally known as Booth Newspapers, or Booth Michigan, is a media group that produces newspapers in the state of Michigan. Founded by George Gough Booth with his two brothers, Booth Newspapers was sold to Advance Publications, a Samuel I. Newhouse property, in 1976.

WPXD-TV is a television station licensed to Ann Arbor, Michigan, United States, serving as the Ion Television affiliate for the Detroit area. Owned by Inyo Broadcast Holdings, the station broadcasts from a transmitter on West 11 Mile Road in Southfield, Michigan.

<span class="mw-page-title-main">Alemtuzumab</span> Medication

Alemtuzumab, sold under the brand names Campath and Lemtrada among others, is a medication used to treat chronic lymphocytic leukemia and multiple sclerosis. In chronic lymphocytic leukemia, it has been used as both a first line and second line treatment. It is given by injection into a vein.

Sanofi Pasteur is the vaccines division of the French multinational pharmaceutical company Sanofi. Sanofi Pasteur is the largest company in the world devoted entirely to vaccines. It is one of four global producers of the yellow fever vaccine.

<span class="mw-page-title-main">Genzyme</span> Company

Genzyme was an American biotechnology company based in Cambridge, Massachusetts. Since its acquisition in 2011, Genzyme has been a fully owned subsidiary of Sanofi. In 2010, Genzyme was the world's third-largest biotechnology company, employing more than 11,000 people around the world. As a subsidiary of Sanofi, Genzyme has a presence in approximately 65 countries, including 17 manufacturing facilities and 9 genetic-testing laboratories. Its products are also sold in 90 countries. In 2007, Genzyme generated $3.8 billion in revenue with more than 25 products on the market. In 2006 and 2007, Genzyme was named one of Fortune magazine’s “100 Best Companies to Work for”. The company donated $83 million worth of products worldwide; in 2006, it made $11 million in cash donations. In 2005, Genzyme was awarded the National Medal of Technology, the highest level of honor awarded by the president of the United States to America's leading innovators. In February 2022, Sanofi's new corporate brand was unveiled and former entity "Sanofi Genzyme" got integrated into Sanofi.

Sargramostim is a recombinant granulocyte macrophage colony-stimulating factor (GM-CSF) that functions as an immunostimulator.

Automotive Components Holdings, LLC is a Ford Motor Company-managed temporary business formed by the 2005 transfer of 17 automotive components factories and six research, testing and other facilities from Visteon Corporation to Ford. The creation of ACH was intended to ensure that Ford continued to receive a flow of parts from the facilities, whilst enabling them to be prepared for sale or other disposition.

Sheridan Gray Snyder OBE is an entrepreneur, venture capitalist, and philanthropist in the biotechnology industry. He is the founder and CEO of Biocatalyst, Genzyme and others.

<span class="mw-page-title-main">Cambridge Antibody Technology</span> Defunct British biotechnology company

Cambridge Antibody Technology was a biotechnology company headquartered in Cambridge, England, United Kingdom. Its core focus was on antibody therapeutics, primarily using Phage Display and Ribosome Display technology.

Fresolimumab (GC1008) is a human monoclonal antibody and an immunomodulator. It is intended for the treatment of idiopathic pulmonary fibrosis (IPF), focal segmental glomerulosclerosis, and cancer.

Chris Viehbacher is a German-Canadian businessman. He served as the Chief Executive Officer of Sanofi and Chairman of Genzyme until 29 October 2014. Viehbacher then worked with Gurnet Point Capital, a healthcare venture capital and private equity fund backed by Ernesto Bertarelli and his family.

Alnylam Pharmaceuticals, Inc. is an American biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics for genetically defined diseases. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts. In 2016, Forbes included the company on its "100 Most Innovative Growth Companies" list.

<span class="mw-page-title-main">Henri Termeer</span>

Henri A. Termeer was a Dutch biotechnology executive and entrepreneur who is considered a pioneer in corporate strategy in the biotechnology industry for his tenure as CEO at Genzyme. Termeer created a business model adopted by many others in the biotech industry by garnering steep prices— mainly from insurers and government payers— for therapies for rare genetic disorders known as orphan diseases that mainly affect children. Genzyme uses biological processes to manufacture drugs that are not easily copied by generic-drug makers. The drugs are also protected by orphan drug acts in various countries which provides extensive protection from competition and ensures coverage by publicly funded insurers. As CEO of Genzyme from 1981 to 2011, he developed corporate strategies for growth including optimizing institutional embeddedness nurturing vast networks of influential groups and clusters: doctors, private equity, patient-groups, insurance, healthcare umbrella organizations, state and local government, and alumni. Termeer was "connected to 311 board members in 17 different organizations across 20 different industries" He has the legacy of being the "longest-serving CEO in the biotechnology industry.

<span class="mw-page-title-main">Ionis Pharmaceuticals</span> Biotechnology company

Ionis Pharmaceuticals, Inc. is a biotechnology company based in Carlsbad, California, that specializes in discovering and developing RNA-targeted therapeutics. The company has three commercially approved medicines: Spinraza (Nusinersen), Tegsedi (Inotersen), and Waylivra (Volanesorsen) and has four drugs in pivotal studies: tominersen for Huntington's disease, tofersen for SOD1-ALS, AKCEA-APO(a)-LRx for cardiovascular disease, and AKCEA-TTR-LRx for all forms of TTR amyloidosis.

<span class="mw-page-title-main">TCF Financial Corporation</span> Former American financial services company

TCF Financial Corporation was a bank holding company based in Detroit, Michigan. The current incarnation of the company was formed by a 2019 merger between the former TCF, which was established in 1923 in Wayzata, Minnesota, and the Michigan-based Chemical Financial Corporation. In December 2020, TCF announced a merger with Huntington Bancshares. It was announced on May 26, 2021, that TCF Bank will be required by the Department of Justice to sell off 13 branches in Michigan. These branches were purchased by Horizon Bank at the end of the third quarter. The final approval has been given for the merger and the merger was complete on June 9, 2021. The combined bank has $175 billion in assets.

References

  1. 1 2 3 4 Seiffert, Don (21 Oct 2014). "In Vericel, an old Genzyme business gets new life and space in Cambridge". bioflash. Boston Bus. J.