The Massachusetts Life Sciences Center said it is marking the commercial launch of a product developed by a small local company that was a recipient of an investment from the center’s Accelerator Loan Program.
The center is a quasi-public agency of the Commonwealth of Massachusetts; its mission is to implement the Massachusetts Life Sciences Act, a $1-billion initiative that is a priority of Governor Deval Patrick’s.
The announcement represents the first global product launch of a technology developed with funding from the center’s Accelerator Loan Program, the center said.
About four years ago, the center gave a $500,000 Accelerator Loan to a company called Pluromed, which was working on a biopolymer gel that allows surgeons to temporarily stop blood flow during surgery without the use of clamps, elastic loops, or other conventional occlusion devices that may risk trauma to blood vessels.
According to the center, its loan came at a critical stage for Pluromed.
In 2012, Pluromed was acquired by Sanofi SA, a large French drug maker that attracted widespread local attention when it bought Genzyme of Cambridge for $20.1 billion in 2011. Pluromed repaid the loan in full with interest after being acquired by Sanofi, the center said.
In a Tuesday press release, Sanofi said it has just begun selling Pluromed’s biopolymer gel under the brand name LeGoo.
“New treatments, therapies and cures that improve patient care also create jobs,” Patrick said in a statement included in the center’s press release. “Today’s product launch demonstrates what the Life Sciences Initiative is all about. I congratulate both the Life Sciences Center and Sanofi on the launch of this important new technology.”Chris Reidy can be reached at email@example.com.