Regentis Biomaterials – Best Incubator Company of 2008
Established in Technion Seed; Raised 7.5M$ in the passing year from VC Vitalife, one of Technion Seed's partners, and other investors; The Announcement – at the OCS Annual Ceremony, arranged by The Ministry of Industry, Trade and Labor
Regentis Biomaterials, which develops bio-medical materials used for cartilage repair, will receive the Best Incubator Company of 2008 Award at the OCS Annual Ceremony, held by The Ministry of Industry, Trade and Labor (Tuesday, April 1st, 17:30PM). Regentis was established at Technion Seed, and the founders themselves are Dror Seliktar, Ph.D., CSO and staff member in the Biomedical Engineering Department at the Technion; and Yehiel Tal, CEO, Technion graduate. During the passing year, followed by the completion of initial successful experiments, Regentis has raised 7.5M$ from VC Vitalife - one of Technion Seed's partners, which had invested the initial funding in the company – and other investors.
"Regentis demonstrates Technion Seed's unique model, that is to say an initial investment in projects made by the VC funds, which are Technion Seed's partners (SCP- Vitalife, Vertex, Battery Ventures (USA) and ProSeed); accompanying the companies from seed stage to first achievements; then raising a great amount of capital, led by these VC funds, which are the biggest and leading VC funds in Israel", says Technion Seed CEO Moshe Katzenelson. “Regentis refers to an enormous market, and its unique solution places it as a leading company in its field. Both current award and the continuance investment, achieved by the company, indicate Regentis' appreciation as a pioneering and innovative company with a tremendous potential".
"There's no doubt that the company's success wouldn't have been possible had it not been for the excellent science and research done and developed by Dr. Dror Seliktar in his laboratory at the Technion", says Technion's Business Unit Manager, Benjamin Soffer. “However, it is possible that the technology wouldn't have emerged and reached the same achievements if it hadn't been for the entrepreneurs' decisiveness, such as Yehiel Tal. We are pleased with this kind of combination between a first class entrepreneur and a first class inventor. This combination is done in the best way using an excellent platform, which satisfies both Technion Seed and the investors that support and back it up", emphasized Soffer.
Regentis develops bio-medical materials used for cartilage repair, based on a technological platform called Gelrin™. Gelrin™ Platform Technology, which was developed by Dr. Dror Seliktar in the laboratories of the Biomedical Engineering Department at the Technion, is an implantable resorbable matrix designed to promote healing of focal tissue defects. The Gelrin™ matrix is composed of PEG, and excipients that facilitate in-situ polymerization and its controlled erosion.
About Technion Seed
Technion Seed is a seed-stage investment firm, owned jointly by four top-tier Venture Capital funds – Vertex Venture Capital, Battery Ventures (US-based), SCP-Vitalife and ProSeed – and the Technion Research & Development Foundation. Through Technion Seed, these funds invest in high market potential technological ideas and ventures, that are still at an early stage and with very high uncertainty. The investment in such ventures – initially up to about $1,000,000 – is made both directly by the funds and indirectly through Technion Seed. The purpose of the initial investment is to enable the entrepreneurs to prove the viability of their idea. Success in the initial phase will then lead to a large round of financing by the funds, for continued growth of the venture. Technion Seed and its owners invest in a wide variety of areas, including communications, IT, internet, medical devices, renewable energy, new materials and more.
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