Bioventus (Nasdaq:BVS) amended the agreement for its pending acquisition of CartiHeal to defer a large chunk of payments. Durham, North Carolina-based Bioventus announced in April that it agreed to acquire the orthopedic implant maker in a deal worth at least $315 million. An amendment to the acquisition agreement reduces the closing payment to $50 million […]
CartiHeal Ltd.
Bioventus announces $415M offering
Bioventus (Nasdaq:BVS) announced today that it intends to offer $415 million in aggregate principal amount of senior notes due in 2027. Durham, North Carolina-based Bioventus’ private offering of senior notes will be guaranteed by each of its domestic restricted subsidiaries that guarantee its obligations under its senior secured credit facilities. The company is the creator […]
Bioventus plans to buy CartiHeal for at least $315M to launch knee implant
Bioventus (Nasdaq: BVS) today said it plans to buy CartiHeal following the FDA’s recent premarket approval of the Israel-based medtech developer’s Agili-C implant. Durham, North Carolina-based Bioventus will pay about $315 million to buy the company, excluding the stake already owned by Bioventus after it made a $50 million escrow payment last year. The deal also […]
CartiHeal wins FDA premarket approval for its Agili-C knee implant
CartiHeal announced today that it received FDA premarket approval for its Agili-C implant for treating knee joint surface lesions. Kfar Saba, Israel-based CartiHeal designed its Agili-C implant as a proprietary implant for treating cartilage lesions in arthritic and non-arthritic joints. Its PMA indication covers the treatment of an International Cartilage Repair Society (ICRS) grade III […]
Bioventus triggers $50M option to acquire CartiHeal
Bioventus (NSDQ:BVS) announced today that it chose to make a $50 million escrow payment to acquire CartiHeal and its Agili-C implant. Durham, N.C.-based Bioventus elected to make its escrow payment pursuant to its option and equity purchase agreement with CartiHeal to signal its intent to move forward with an acquisition of the company. According to […]
CartiHeal wins FDA breakthrough designation for Agili-C implant
CartiHeal announced that it received FDA breakthrough device designation for its Agili-C implant for treating cartilage lesions. Kfar Saba, Israel.-based CartiHeal’s Agili-C implant is a proprietary implant for treating cartilage lesions in arthritic and non-arthritic joints, according to a news release. The implant is currently being observed in a pivotal investigational device exemption study comparing […]
CartiHeal launches pivotal trial of Agili-C knee implant
CartiHeal said yesterday it launched an FDA investigational device exemption clinical study of its Agili-C implant for repairing cartilage, osteochondral defects and treating joint surface lesions. A total of 16 patients have been enrolled and undergone operations at European centers in the trial, the Israel-based company said. The 2-year, 250-patient pivotal study will engage US and […]
CartiHeal raises $18.3m to support PMA trial of Agili-C implant
CartiHeal said today it raised $18.3 million in a new round of financing to support an FDA IDE-approved clinical trial of its Agili-C implant for use in repairing cartilage and osteochondral defects. The 2-year pivotal study will engage US and international centers and aims to show that the Israel-based company’s Agili-C is superior over the […]
E.U. biotech group wins $5.2M for artificial liver research | Funding Roundup
E.U. biotech quartet wins $5.2M for artificial liver research
A group of European biotechnology developers won $5.2 million (€4.2 million) to advance their collaborative work on artificial liver tissue.
iRobot invests $6M into telemedicine company | Funding Roundup
iRobot Corp. (NSDQ: IRBT), famous for their Roomba automated cleaning robots, invested $6 million and launched an extended partnership with InTouch Health, which develops telemedicine systems for providing remote health care.
The venture builds on an existing relationship that the companies announced last summer, under which the companies engaged in a development and licensing agreement.
