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Sunday, 21 December 2014 07:31

Bonus BioGroup Announces Agreement to Develop Large Vascularized Living Transplants of Human Tissue

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Bonus BioGroup Announces Agreement to Develop Large Vascularized Living Transplants of Human Tissue

logo4footerBonus BioGroup announces that it has entered into agreements to develop a large vascularized (blood vessel-containing) living transplants of human tissue. The Chief Scientist confirmed compliance of the Company with all conditions precedent thereby approving the support, with a budget of up to 1.3 million NIS in 2015. The joint research will be performed by Bonus Therapeutics Ltd, a wholly owned subsidiary of the Company, and the Western Galilee Hospital in Nahariya, affiliated with the Bar-Ilan University School of Medicine in Safed.

Bonus is currently developing a large living transplant of vascularized human bone to provide accelerated regeneration in the affected area. Composed of autologous (originating from the patient) cells and biodegradable materials, the blood vessels within the transplant will form new vasculature at the transplantation site. 
Bonus entered into three agreements pertaining to this joint development: The first with the medical center, where development of the large vascularized living transplants of human tissue will continue; the second with the Technion to stipulate Bonus’ exclusive rights in the pre-existing intellectual property; and a third between the medical center and the TEchnion to secure Bonus’ exclusive marketing rights.

The research agreement, along with a licensing agreement, grant Bonus exclusive global rights to develop, manufacture and market large vascularized human-tissue transplants based on the aforementioned research.
At the beginning of this week the Company reported the raising of capital through private placement. Under the terms of the investment agreement the Company will allocate 4 million common shares for cash payment in the amount of 2 million NIS. This amount reflects a price of 50 agorot per share.

This capital raise took place several days following the selection of Bonus Therapeutics Ltd., a wholly-owned subsidiary of Bonus BioGroup, as a finalist for the 2015 edition of Red Herring’s Top 100 Europe Award for most promising start-ups in Europe. The editorial team of Red Herring, a company which performs daily and periodical analytic reviews of technology companies around the world, has selected the 100 technology companies which, to the best of their judgment, demonstrate the greatest business opportunities across Europe. The nominees are evaluated on 20 quantitative and qualitative criteria.
Over the years, Red Herring’s experts were amongst the first to identify the disruptive potential of notable companies such as Google, Yahoo!, Facebook, Twitter, Skype, YouTube, eBay and Mobileye.
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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