Safeguard acquired the assets along with the syndication partner and worked with their management team as we hired all back, we hired back all the people and brought in a new management team, we worked with that CEO and his management team to redefine the pricing and reimbursement model. And they went back to the marketplace with their lead product Dermagraft in 2007.This was a cellular based artificial skin used for diabetes foot ulcer and burn patients. They increased their revenue from nothing in 2007 to $145 million in 2010 and filed an S1 and were getting ready to price an IPO when Shire came in and offered a 25% premium on the mid point of that pricing range and that was earlier this year.
Safeguard Scientifics Inc. Analyst Day Conference Call Transcript
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