Cartilage Regeneration Technology Receives Award
August 13, 2013
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.
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@example.com.
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, Sede Boqer 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.
A. Lavin Communications
About American Associates, Ben-Gurion University of the Negev
American Associates, Ben-Gurion University of the Negev (AABGU) 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. Activities include showcasing BGU’s academic excellence and cutting-edge research through educational programs, events and informative communications. AABGU’s main purpose is to support Ben-Gurion’s vision and the university that bears his name by creating a community of Americans committed to improving the world tomorrow from the heart of the Israeli desert today.
A. Lavin Communications