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Wednesday, 13 May 2015 08:00

Bonus BioGroup Announces Agreement to Develop Innovative Biological Components

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 Bonus BioGroup Announces Agreement to Develop Innovative Biological Components

The agreement allows Bonus to receive FDA approval for innovative biological components which will be integrated into its manufactured transplants. These will be submitted to the FDA at no cost for Bonus. 

logo4footerBonus BioGroup announces that it has entered into an agreement with LifeNet Health Inc., headquartered in Virginia, USA, to carry out joint research and development of innovative biological components, including those which may be uniquely adapted to incorporation into Bonus BioGroup’s human living transplants.

Biological components in line with Bonus BioGroup’s development pipeline and commercialization strategy and whose safety and efficacy are confirmed by clinical studies held by Bonus, may be submitted by LifeNet Health to regulatory authorities, including the FDA (Food and Drug Administration US) and the EMA (European Medicines Agency), to obtain approvals required for their transplantation in humans, in clinical trials and/or commercially. 
Bonus BioGroup will own any intellectual property arising from the joint research without having to pay royalties to LifeNet Health and/or third parties.
LifeNet Health is the world's largest provider of biological components in the field of restorative and rehabilitative medicine. It supplies to medical centers and research institutes, and partners with over 400,000 physicians worldwide in the various disciplines, including orthopedics, neurology and cardiology. 
Within the collaboration, Bonus BioGroup will be able to purchase advanced biological components at a cost significantly lower than market price, to characterize them and to then co-develop innovative ones exclusively for Bonus BioGroup’s applications. The collaboration will be facilitated by LifeNet Health’s financial and scientific resources and its experience in applying for FDA approvals. 
Under the terms of the agreement, LifeNet Health will be granted Right of First Offer to supply Bonus BioGroup with the biological components developed within the research, for a period of at least two years, provided that commercial terms remain on a par with other vendors.

Dr. Shai Meretzki, CEO of Bonus BioGroup, commented, “We thank the management of LifeNet Health for trusting Bonus BioGroup’s experienced scientific team with advanced biological components never before marketed. The collaboration with LifeNet Health – the largest provider worldwide of human biological components, demonstrates and strengthens Bonus BioGroup's position in the scientific community as a leading biological material and tissue engineering company which works to advance the commercialization of rehabilitative medical products. Bonus BioGroup will continue to develop human living grafts and to establish collaborations with other leading entities both in Israel and abroad".

Bonus BioGroup's unique technology combines disciplines such as biology, tissue and material engineering and personalized medicine. The Company strives to enhance its technological expertise by rigorous R&D activities and through collaborations with other entities aimed at purchasing and/or obtaining exclusive rights to relevant technologies.

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