LANGHORNE, PA — NEXGEL, Inc. (NASDAQ: NXGL) recently closed its previously announced license and acquisition of a portfolio of regenerative biomaterial products from Celularity Inc. (NASDAQ: CELU) and launched a new division, BioNX Surgical, to expand its presence in regenerative medicine.
The transaction includes six commercial-stage products with existing reimbursement coverage and more than a decade of clinical use.
NEXGEL said the deal is expected to approximately triple its annual revenue to about $35 million on a pro forma basis and be immediately accretive to profitability.
The acquisition was financed in part by a $5.5 million strategic investment from Sequence LifeScience through a convertible note with a $0.60 conversion price and 50% warrant coverage at a $0.80 strike price.
Sequence LifeScience will serve as a contract manufacturer and collaborate with NEXGEL on product development, including planned 510(k) regulatory filings in 2026, 2027, and 2028.
The newly formed BioNX Surgical division will focus on applications including tendon repair, soft tissue reconstruction, and bone regeneration.
The acquired portfolio is expected to support near-term revenue growth through established reimbursement pathways and existing commercial distribution.
Adam Levy, chief executive officer of NEXGEL, said the transaction expands the company’s product development and commercial capabilities.
Brian Kieser, chief executive officer of Sequence LifeScience, said the partnership is intended to combine manufacturing and product innovation capabilities with NEXGEL’s distribution platform.
NEXGEL develops hydrogel-based products for healthcare, consumer, and over-the-counter applications.
Support the local news that supports Chester County. MyChesCo delivers reliable, fact-based reporting and essential community resources—free for everyone. If you value that, click here to become a patron today.