Additional Strategic Funding for CartiHeal’s Ongoing AGILI-C™ IDE Clinical Study $2.5M boost by Bioventus brings latest investment round to $21M
KFAR SABA, ISRAEL and DURHAM, NC– January 31, 2018 - CartiHeal, developer of the proprietary Agili-C implant for the treatment of joint surface lesions in traumatic and osteoarthritic joints, has secured a $2.5 million investment from Bioventus, a global leader in orthobiologics – reflecting the growing interest in CartiHeal’s technology.
Bioventus’s $2.5 million boost complements CartiHeal’s latest financing round, led by aMoon, together with Johnson & Johnson Innovation (JJDC Inc.), Peregrine Ventures, and Elron, bringing the total round to $21 million.
The funding will focus on CartiHeal’s ongoing Agili-C IDE clinical study. Further to the trial's initiation three months ago, over thirty patients were already enrolled, according to enrollment rate forecasts.
CartiHeal CEO, Nir Altschuler: “This investment is a vote of confidence by an important orthobiologic strategic player. Bioventus joins our team of strategic investors who perceived the potential of the Agili-C implant. We are confident that Bioventus will bring substantial added value to CartiHeal.”
“Agili-C shows great promise to relieve osteoarthritis pain for a large patient population and we look forward following the pivotal trial to a successful culmination,” said Tony Bihl, CEO, Bioventus.
About CartiHeal
CartiHeal, a privately-held medical device company with headquarters in Israel, develops proprietary implants for the treatment of cartilage and osteochondral defects in traumatic and osteoarthritic joints.
About the Agili-C™ implant IDE multinational pivotal study
The Agili-C™ IDE study is set to include a minimum of 250 patients in US and OUS centers, aiming for a PMA submission. The trial's objective is to demonstrate the superiority of the Agili-C™ implant over the surgical standard of care (microfracture and debridement) for the treatment of cartilage or osteochondral defects, in both osteoarthritic knees and knees without degenerative changes.
About Bioventus
Bioventus is an orthobiologics company that delivers clinically proven, cost-effective products that help people heal quickly and safely. Its mission is to make a difference by helping patients resume and enjoy active lives. Orthobiologic products from Bioventus include offerings for bone healing, bone graft and knee osteoarthritis. Built on a commitment to high quality standards, evidence-based medicine and strong ethical behavior, Bioventus is a trusted partner for physicians worldwide. For more information, visit www.BioventusGlobal.com and follow the company on Twitter @Bioventusglobal.
Bioventus and the Bioventus logo are registered trademarks of Bioventus, LLC.
For Bioventus Contact: Thomas Hill, , [email protected]
For CartiHeal Contact: [email protected]
Bioventus Launches New Website for EXOGEN®
DURHAM, NC– January 25, 2018 – Bioventus, a global leader in orthobiologics, today has launched a new version of EXOGEN.com, the product website for its EXOGEN Ultrasound Bone Healing System. EXOGEN uses safe, effective low-intensity pulsed ultrasound (LIPUS) to help stimulate the body’s natural bone healing process. EXOGEN.com has a new look and feel which is designed to be more appealing to both patients and clinicians.
“EXOGEN.com has a number of features added to improve the experience of clinicians that visit the site and to facilitate a more meaningful patient experience,” said Dave Varner, Vice President, Global Marketing, Bioventus. “Specifically, patients will find a new bone healing discussion guide and patient success stories.”
Patients visiting EXOGEN.com can also access a complete portfolio of support materials that empower them to learn and connect with their therapy. An extension of this connection is provided by the EXOGEN Connects app, available to all patients to support compliance with the therapy by enabling synchronization with personal calendars.
“Clinicians can expect an improved experience at EXOGEN.com which includes expanded information and understanding of clinical conditions that benefit from use of EXOGEN by viewing our recent case studies on the metatarsal, tibia, and femur,” added Varner. “We also have links to top peer reviewed journal articles providing in-depth review of clinical efficacy and patient outcomes.”
Because of varying indications and languages, EXOGEN.com has always had country specific pages and the initial launch of the updated website includes the US, the UK/Ireland as well as Canada (English and French). The updated EXOGEN sites for Australia/New Zealand, Germany, Poland, the Netherlands, Norway, Sweden and Finland, will go live later in Q1 2018.
About Bioventus
Bioventus is an orthobiologics company that delivers clinically proven, cost-effective products that help people heal quickly and safely. Its mission is to make a difference by helping patients resume and enjoy active lives. Orthobiologic products from Bioventus include offerings for bone healing, bone graft and knee osteoarthritis. Its EXOGEN Ultrasound Bone Healing System uses safe, effective low intensity pulsed ultrasound (LIPUS) to stimulate the body’s natural healing process. EXOGEN has been used to treat more than 1 million patients worldwide and numerous regulatory agencies including the FDA, Health Canada, BSI, TGA, Medsafe, UAE Ministry of Health and SFDA have granted their approval of the product. Today it is the leading bone healing system in the market with complaints for lack of efficacy averaging less than 1%.
Built on a commitment to high quality standards, evidence-based medicine and strong ethical behavior, Bioventus is a trusted partner for physicians worldwide. For more information, visit www.BioventusGlobal.com and follow the company on Twitter @Bioventusglobal.
Bioventus, the Bioventus logo, and EXOGEN are registered trademarks of Bioventus LLC.
Media Contact: Thomas Hill, +1 , [email protected]
EXOGEN - Summary of Indications for Use in the US
Summary of Indications for Use: The EXOGEN Ultrasound Bone Healing System is indicated for the non-invasive treatment of established non-unions* excluding skull and vertebra. In addition, EXOGEN is indicated for accelerating the time to a healed fracture for fresh, closed, posteriorly displaced distal radius fractures and fresh, closed or Grade I open tibial diaphysis fractures in skeletally mature individuals when these fractures are orthopaedically managed by closed reduction and cast immobilization. There are no known contraindications for the EXOGEN device. Safety and effectiveness has not been established for individuals lacking skeletal maturity; pregnant or nursing women; patients with cardiac pacemakers; on fractures due to bone cancer; or on patients with poor blood circulation or clotting problems. Some patients may be sensitive to the ultrasound gel. Full prescribing information can be found in product labeling, at www.exogen.com or by contacting customer service at 1-800-836-4080. *A nonunion is considered to be established when the fracture site shows no visibly progressive signs of healing.
