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Sientra to strengthen aesthetics portfolio with Miramar Labs buy

Sientra Inc. is set to acquire Miramar Labs for $20 million in up-front cash. Miramar Labs would also receive a further $14 million upon the achievement of certain milestones.

The acquisition will strengthen Sientra's aesthetics portfolio, adding Miramar's miraDry system to reduce underarm sweat and odor and permanently reduce hair of all colors.

Stifel acted as a financial adviser to Sientra, and Cooley LLP acted as legal counsel to the company.

Canaccord Genuity acted as financial adviser, and Wilson Sonsini Goodrich & Rosati acted as legal counsel for Miramar.