{"id":38427,"date":"2009-11-09T08:06:30","date_gmt":"2009-11-09T13:06:30","guid":{"rendered":"http:\/\/www.pehub.com\/?p=55040"},"modified":"2009-11-09T08:06:30","modified_gmt":"2009-11-09T13:06:30","slug":"biomet-buys-vc-backed-cartilix","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/38427","title":{"rendered":"Biomet Buys VC-backed Cartilix"},"content":{"rendered":"

Biomet Inc.<\/strong> has acquired Cartilix Inc.<\/strong>, a Foster City, Calif.-based developer of biomaterials to repair damaged tissues in articular joints. No financial terms were disclosed. Cartilix had raised $6.5 million in Series A funding led by De Novo Ventures<\/strong>.<\/p>\n

PRESS RELEASE<\/span><\/strong><\/p>\n

Biomet, Inc., a global leader in the manufacture of orthopedic and dental medical devices, announced today its acquisition of the assets of Cartilix, a Foster City, CA based company that has developed proprietary cartilage repair technology.<\/p>\n

Cartilix was founded in 2004 to develop cartilage repair and regeneration solutions. The company developed ChonDux\u2122, a proprietary cartilage regeneration technology for repair of knee cartilage. ChonDux\u2122 technology uses a biological adhesive and hydrogel to fill articular cartilage lesions.<\/p>\n

ChonDux\u2122 technology is not yet commercially available. Clinical trials are scheduled to begin in Europe during the first half of 2010 with a U.S. clinical trial anticipated to follow thereafter.<\/p>\n

Jeff Binder, Biomet President and CEO, stated: \u201cWe believe that Cartilix\u2019s technology platform is a great fit for Biomet\u2019s continuum of solutions for knee disorders. Biomet has a rapidly-growing sports medicine franchise, the world\u2019s leading partial knee replacement system, and the most comprehensive total knee replacement system on the market, allowing us to provide a broad spectrum of solutions for varying degrees of knee disorders. The Cartilix technology provides Biomet with an opportunity to facilitate earlier intervention in pre-arthritic patients.\u201d<\/p>\n

About Biomet<\/p>\n

Biomet, Inc. and its subsidiaries design, manufacture and market products used primarily by musculoskeletal medical specialists in both surgical and non\u2010surgical therapy. Biomet\u2019s product portfolio encompasses reconstructive products, including orthopedic joint replacement devices, bone cements and accessories, autologous therapies and dental reconstructive implants; fixation products, including electrical bone growth stimulators, internal and external orthopedic fixation devices, craniomaxillofacial implants and bone substitute materials; spinal products, including spinal stimulation devices, spinal hardware and orthobiologics; and other products, such as arthroscopy products and softgoods and bracing products. Headquartered in Warsaw, Indiana, Biomet and its subsidiaries currently distribute products in approximately 90 countries.<\/p>\n

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Biomet Inc. has acquired Cartilix Inc., a Foster City, Calif.-based developer of biomaterials to repair damaged tissues in articular joints. No financial terms were disclosed. Cartilix had raised $6.5 million in Series A funding led by De Novo Ventures. PRESS RELEASE Biomet, Inc., a global leader in the manufacture of orthopedic and dental medical devices, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-38427","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/38427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=38427"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/38427\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=38427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=38427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=38427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}