Bioventus Makes $15 Million Equity Investment in CartiHeal with an Agreed Option Structure to Acquire Company Upon Milestone Achievements

CartiHeal, developer of the proprietary Agili™-C implant for the treatment of joint surface lesions in traumatic and osteoarthritic joints, has secured an additional $15 million equity investment from Bioventus, a global leader in orthobiologics. The investment follows the recently completed enrollment and outcome of interim analysis in CartilHeal’s investigational device exemption (IDE) multinational pivotal study. An additional $5 million can be secured by CartiHeal from Bioventus, if needed, for IDE study completion.