Israel’s Algae-Based Medical Adhesives Developer Sealantis Sold for $25 Million

Sealantis uses an algae-based polymer that does not contain proteins, reducing risks of infection or allergic reaction

Sealantis, (L-R) Dr. Ohad Kimhi, R&D Director, Prof. Havazelet Bianco-Peled, Founder and Chief Scientific Adviser, and Tomer Fuchs, CEO

Israel-based medical adhesives Sealantis was acquired by Advanced Medical Solutions Group (AMS) from Winsford, U.K. for $25 million and royalties from future sales, the two companies announced Thursday.

Sealantis develops medical adhesives based on patented technology from the Technion Israel. The leading advantage of the technology is the fact that it uses an algae-based polymer with no proteins, and therefore the risk of infection or allergy is significantly lower than that of competing products produced from animals. The product does not require refrigerated transport and storage, it can be applied by spreading or spraying, and is also suitable for use in laparoscopic surgery.

Surgical glue, often used in place of sutures or staples, but the company focuses on surgical seals designed to stop bleeding, prevent leakage of digestive tract contents into the abdominal cavity, prevent leakage of spinal fluid, and a variety of other applications. The company’s pipeline is focused on two segments: gastrointestinal, to prevent intestinal leaks following surgery, and vascular, for rapid control of bleeding.

AMS, the acquiring company, is a manufacturer of innovative and technologically advanced products for the global surgical, wound closure and advanced wound care markets. This is their first acquisition in Israel, and Sealantis will be an innovation center for the multinational group. AMS’s products are sold in more than 75 countries, and the group has more than 600 employees.

Founded in 2007 by Prof. Havazelet Bianco-Peled, Sealantis is London-listed which sells its products in over 75 countries. The company stated it intends to turn Sealantis into an innovation center and expand its operations in Israel.

Sealantis is developing a proprietary platform of alga-mimetic tissue adhesives, for a variety of applications and clinical needs in surgical leakage control, tissue adhesion and drug delivery. The Sealantis adhesives are protein-free, and have an extraordinary ability to adhere strongly to internal tissues even in wet environments.

 

 

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