Industry News

Johnson & Johnson Invests in Lifebond, Developer of Surgical Sealants

Published on 2011-08-22. Author : SpecialChem

LifeBond, an Israeli maker of biosurgical products, raised over $20 million in a third round of financing led by Giza Venture Capital and Aurum Ventures, with Johnson & Johnson Development Corp joining the process.

Existing investors including Israeli group Pitango Venture Capital also participated in this round.

LifeBond develops surgical sealants, glues and hemostats intended for preventing leakage and bleeding.

It plans to use the financing to complete pre-clinical and clinical phases of its flagship product, LifeSealGI, a sealant indicated for reinforcement of gastro-intestinal anastomoses.

Post-surgical leakage from anastomoses is a significant risk factor that can result in life threatening complications.

LifeBond anticipates that LifeSealGI will reach the market within the next couple of years, pending regulatory approval.

About LifeBond

LifeBond was first conceived in 2006, in the midst of the Israel-Lebanon war, LifeBond's founders identified a strong market need for next-generation products in the field of wound closure and hemostasis (stoppage of bleeding). Together, they built a business plan for a company that would advance medical care by developing a proprietary biomaterial technology into a range of innovative biosurgical products.

LifeBond's technology builds upon the thorough scientific research performed at the University of Maryland Biotechnology Institute (UMBI) under the auspices of Prof. Gregory Payne. LifeBond funded a series of in-vitro efficacy studies at UMBI that demonstrated the strong potential of LifeBond's materials in the field of biosurgical wound closure. The Company has been fortunate to enjoy the ongoing scientific support of Prof. Payne, now Director of the Center for Biosystems Research at UMBI.

Source: LifeBond

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