Posted September 13, 2021
DURHAM – Bioventus is getting ready to make another big acquisition.
The global orthobiologics company headquartered in Durham has agreed to make a $50 million escrow payment to Israeli med tech startup CertiHeal, “signaling its intent to move forward with the acquisition,” the company said.
It comes on the heels of two other major acquisitions of med tech companies completed this year – Misonix in July and Bioness in March.
It also follows an extensive review of CertiHeal’s clinical trial of the Agili-C implant and “significant market diligence,” including surgeon interviews, over its “commercialization and market potential.”
Agili-C is designed to treat cartilage and osteochondral defects in the knee joint in patients without severe osteoarthritis.
A randomized controlled trial with Agili-C demonstrated superiority over surgical standard of care, microfracture and debridement, said Alessandra Pavesio, Bioventus’ senior vice president and chief science officer.
“We believe this product could be a strong alternative for the approximately 650,000 U.S. patients annually receiving microfracture or debridement along with other cartilage treatment options,” she added.
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