CartiHeal completed a US $15MM financing round. Funds will support ongoing manufacturing scale-up, EU product commercialization in 2017 and clinical studies in new therapeutic areas for Agili-C™ cartilage regeneration technology.
The investment was led by Johnson & Johnson Innovation and existing investors Elron, Accelmed, Access Medical Ventures and Peregrine Ventures.
The cell-free, off-the-shelf Agili-C product has been successfully implanted ~200 patients throughout the EU, to date. Agili-C is indicated to treat cartilage and osteochondral defects in degenerative and non-degenerative lesions. Results from procedures in the knee, ankle and great toe indicate regeneration of hyaline cartilage and its underlying subchondral bone, as well as improvement in pain levels and reduction of related symptoms.
Source: CartiHeal Ltd.
Past fundings for CartiHeal occurred in 1Q12 ($5MM), 3Q12 ($10MM) and 4Q13 ($5MM).