Orthobiologics company Bioventus said July 16 that it has invested $15 million in CartiHeal and agreed on an option structure to acquire the company pending approval of its Agili-C implant.
Three things to know:
1. CartiHeal has completed enrollment and outcome of interim analysis in an investigational device exemption study of Agili-C, an implant for the treatment of cartilage lesions in joints.
2. Bioventus will provide an additional $5 million to CartiHeal if required to complete the device exemption study.
3. Terms of the deal to acquire CartiHeal were not disclosed.