Smith + Nephew will pay $180 million at closing and up to an additional $150 million based on financial performance, according to a Nov. 22 news release from the company.
CartiHeal is the developer of Agili-C, a biocompatible and resorbable scaffold that promotes knee cartilage regeneration. The technology is a treatment option for bone and cartilage lesions and is designed to treat a wide patient population.
The FDA granted Aligi-C breakthrough device designation status in October 2020 and premarket approval in March 2022.
The transaction is expected to close during the first quarter of 2024, the release said.
