DURHAM – Bioventus, a global orthobiologics company headquartered in Durham, could become the owner of an Israeli company if that firm secures FDA approval for an implant it has under development.
Bioventus and CartiHeal announced a $15 million investment by Bioventus in CartiHealand disclosed that Bioventus had in place an “option structure” in place for an ancquisition.
The deal follows a $2.5 million investment by Bioventus in the same company two years ago.
“The successful enrollment and outcome at the interim analysis of CartiHeal’s pivotal study for Agili-C implant is an important milestone,” said Ken Reali, CEO, Bioventus, in a statement.
“It is a testament to the strength of its continuing development program and more importantly the future potential of the Agili-C technology in addressing the large unmet need in patients with joint surface lesions. This investment underscores our belief in the novel technology and we look forward to working with the team at CartiHeal in the years to come.”
Original Article Source: WRAL TechWire