Cartilage Regeneration Technology Receives Award
Cartilage Regeneration Technology Receives Award
August 13, 2013
Medical Research, Press Releases
Razi Vago
BEER-SHEVA, Israel, August 13, 2013 – CartiHeal Ltd., a privately held medical device developer of cartilage regeneration technology, was awarded the distinguished “Incubator Company Excellence Award” from the Israel Ministry of Economy’s Office of the Chief Scientist.
The award was granted in recognition of the “commendable achievements of the founder and the professional team, for the development of an advanced technology, from a preliminary idea to a sophisticated and innovative commercial product for the global markets.”
CartiHeal is a spinout of research done by Prof. Razi Vago, head of the Avram and Stella Goldstein-Goren Department of Biotechnology Engineering at Ben-Gurion University of the Negev (BGU) in Israel.
“We are proud that such breakthrough technology originated in the cutting-edge laboratories of BGU,” says Netta Cohen, chief executive officer of BGN Technologies, BGU’s technology transfer company.
CartiHeal’s Agili-CTM platform is based on a breakthrough cartilage repair technology that regenerates “true hyaline” cartilage with no addition of cells, growth factors or other exogenous agents.
This proprietary “cell-free” implant enables a single-stage arthroscopic procedure to repair both chondral as well as osteochondral defects. The ability to regenerate hyaline cartilage in a single-stage procedure meets an acute unmet need and is the long-awaited “Holy Grail” in orthopedics.
“It is a great privilege to receive this award,” says Nir Altschuler, CartiHeal’s founder and chief executive officer.
“We are honored that the distinguished committee recognized the significance of CartiHeal’s scientific, technological, clinical, and business achievements. We are eager to begin commercial activity with Agili-CTM in parallel to our continuous efforts to develop our strong pipeline of products for other indications.”
Altschuler is himself a graduate of BGU, holding both a B.Sc. in biotechnology engineering and an MBA from the University.
Agili-CTM has received CE approval (Europe) and the company is currently running a post-marketing clinical study in leading European medical centers with very promising clinical and radiographic results. Over the last 12 months, CartiHeal raised $10 million in venture funding.
About CartiHeal
Founded in 2009 by Nir Altschuler and BG Negev Technologies Ltd. at Peregrine Ventures’ Incubator Incentive, CartiHeal is a privately held medical device company that develops proprietary technology for the regeneration of cartilage and bone disorders. CartiHeal is a spinout of the Avram and Stella Goldstein-Goren Department of Biotechnology Engineering at Ben-Gurion University of the Negev, Israel. Cartiheal’s investors are Elron, AccelMed, Access Medical Ventures, and Pertec Management. For more information, contact [email protected].
American Associates, Ben-Gurion University of the Negev
American Associates, Ben-Gurion University of the Negev plays a vital role in sustaining David Ben-Gurion’s vision, creating a world-class institution of education and research in the Israeli desert, nurturing the Negev community and sharing the University’s expertise locally and around the globe. With some 20,000 students on campuses in Beer-Sheva, Sde Boker and Eilat in Israel’s southern desert, BGU is a university with a conscience, where the highest academic standards are integrated with community involvement, committed to sustainable development of the Negev.
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ABOUT AMERICANS FOR BEN-GURION UNIVERSITY
By supporting a world-class academic institution that not only nurtures the Negev, but also shares its expertise locally and globally, Americans for Ben-Gurion University engages a community of Americans who are committed to improving the world. David Ben-Gurion envisioned that Israel’s future would be forged in the Negev. The cutting-edge research carried out at Ben-Gurion University drives that vision by sustaining a desert Silicon Valley, with the “Stanford of the Negev” at its center. The Americans for Ben-Gurion University movement supports a 21st century unifying vision for Israel by rallying around BGU’s remarkable work and role as an apolitical beacon of light in the Negev desert.
About Ben-Gurion University of the Negev
Ben-Gurion University of the Negev embraces the endless potential we have as individuals and as a commonality to adapt and to thrive in changing environments. Inspired by our location in the desert, we aim to discover, to create, and to develop solutions to dynamic challenges, to pose questions that have yet to be asked, and to push beyond the boundaries of the commonly accepted and possible.
We are proud to be a central force for inclusion, diversity and innovation in Israel, and we strive to extend the Negev’s potential and our entrepreneurial spirit throughout the world. For example, the multi-disciplinary School for Sustainability and Climate Change at BGU leverages over 50 years of expertise on living and thriving in the desert into scalable solutions for people everywhere.
BGU at a glance:
20,000 students | 800 senior faculty | 3 campuses | 6 faculties: humanities & social sciences, health sciences, engineering sciences, natural sciences, business & management, and desert research.
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