A Texas private equity firm announced the purchase of Axolotl Biologix, Inc. a biotechnology leader in regenerative medicine. Terms of the deal were not disclosed.
With the purchase, Axolotl board member Gary Lauterbach accepted the role of Interim CEO as Phil Larson exits. Other staff, including Chief Science Officer Robert Kellar, Ph.D. and Senior Director of Research & Development Robert B Diller, Ph.D., will remain as the company expects to initiate FDA clinical trials of its current products and others under development.
“The investment by the private equity company allows Axolotl Biologix to execute a more long-term strategy which includes conducting FDA approved clinical trials to further grow acceptance and adoption of our regenerative products,” said Lauterbach. “The team and products at Axolotl are top notch, and we’re very excited about both the short and long-term opportunities awaiting Axolotl Biologix.”
Gary Lauterbach’s goal is to expand distribution of Axolotl products beyond the 500 offices and clinics across the U.S. already utilizing the company’s products and secure new partners as a GSA Contractor.