Game company Majesco merges with regenerative medicine business

It appears to be a merger for the modern age, as video game company Majesco Entertainment Inc. is combining with regenerative medicine business PolarityTE Inc.Although a news release Thursday indicated the Salt Lake City-based Polarity will become a wholly owned subsidiary of South Plainfield-based Majesco, the combined firm will take on the PolarityTE name, one of its co-founders will become CEO and the company will be headquartered in Utah.

“We are pleased to announce that we have reached an agreement to merge with PolarityTE,” outgoing Majesco CEO Barry Honig said in a prepared statement. “PolarityTE’s entirely new concept in tissue engineering will revolutionize the future of regenerative medicine and help address critical unmet medical needs.

“In addition to their wildly novel technology, what further led to our excitement in this deal with PolarityTE was their unmatched clinical advisory board, signaling to us the tremendous momentum behind this company and its technology. I have no doubt that PolarityTE will be the name in autologous tissue engineering in the future after meeting with their leadership, seeing their technology and speaking with members of their clinical advisory board.

Upon signing of the merger agreement, Dr. Denver Lough took over as chairman and CEO of the combined company, with Dr. Edward Swanson named chief operating officer and director.

The former Johns Hopkins University School of Medicine residents in plastic and reconstructive surgery will be establishing a biomedical research and development facility and tissue manufacturing center in Salt Lake City.

“We did not leave our resident careers at Johns Hopkins Hospital to merely change biotech,” Lough said in a statement. “We left to change the future of medicine. This opportunity allows us to disrupt the field with our entirely new proprietary technology platform across a wide variety of tissues to that all patients will eventually be offered a pragmatic method of regenerative wound healing and personalized tissue engineering.”

The merger is subject to customary closing conditions and approvals.

“We sincerely wish to thank Barry Honig, the Majesco board of directors and Dr. Phillip Frost for their confidence in PolarityTE, and we promise not to disappoint,” Lough said.

Majesco officials could not be reached for comment.