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Vericel: Rebooting A Failing Business With Unloved Assets

Executive Summary

Following the acquisition of cell therapy assets from Sanofi, which Sanofi had secured in its purchase of Genzyme, Aastrom Biosciences changed its name to Vericel, doubled down in cell therapy and relocated to Massachusetts. Since then it has seen its revenues grow 12% per year from just under $43 million in 2013 to just under $64 million in 2017. The target for 2020: drive revenues north of $100 million.

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