Entellus Medical pays $11m for Cogent’s XeroGel

Entellus Medical (NSDQ:ENTL) said it paid $11 million in cash to acquire the XeroGel surgical sinus packing from Cogent Therapeutics.

“We are pleased to secure ownership of this best-in-class nasal dressing technology as well as solidify control of the supply chain and distribution to our physician customers. We are excited about the opportunity to leverage our world class engineering team to explore potential innovations and future research & development projects,” president & CEO Robert White said in prepared remarks. “This acquisition highlights our continued commitment to the ENT space and our efforts to provide products that deliver an optimal physician and patient experience.”

Plymouth, Minn.-based Entellus said it expects to post a net loss of -$21 million to -$29 million this year, on sales of $73.0 million to $77.0 million. Second-quarter losses are pegged at -$5.6 million to -$7.6 million, on sales of $17.8 million to $18.8 million. The XeroGel acquisition is forecast to have no effect on the bottom line this year, the company said.

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