August 8, 2011 / 5:15 PM / 6 years ago

Johnson & Johnson invests in Israel's LifeBond

TEL AVIV, Aug 8 (Reuters) - LifeBond, an Israeli maker of biosurgical products, raised over $20 million in a third round of financing led by Giza Venture Capital and Aurum Ventures, with Johnson & Johnson Development Corp joining the process.

Existing investors including Israeli group Pitango Venture Capital also participated in this round.

LifeBond develops surgical sealants, glues and hemostats intended for preventing leakage and bleeding.

It plans to use the financing to complete pre-clinical and clinical phases of its flagship product, LifeSealGI, a sealant indicated for reinforcement of gastro-intestinal anastomoses.

Post-surgical leakage from anastomoses is a significant risk factor that can result in life threatening complications.

LifeBond anticipates that LifeSealGI will reach the market within the next couple of years, pending regulatory approval. (Reporting by Tova Cohen; Editing by Dan Lalor)

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