CAESAREA, Israel, September 13, 2016 /PRNewswire/ --
LifeBond, a leader in the development of bio-surgical medical devices for tissue repair, announced today that it has won the Frost & Sullivan 2016 European New Product Innovation Award for its LifeSeal® Surgical Sealant, a unique gastrointestinal (GI) sealant specifically designed to minimize staple-line leakage in GI resection procedures. The product innovation award is presented to companies that have developed an innovative product that leverages leading-edge technology and generates a significant impact on the customer.
"Anastomotic leakage is a major cause of serious complications following bowel repair involving increased hospital readmission and mortality rates. LifeBond's LifeSeal® is the only GI surgical sealant derived from naturally available components that has been clinically tested to be a safe and effective alternative to synthetic and fibrin-based sealants," said Frost & Sullivan Industry Analyst Arjunvasan Ambigapathy. "LifeBond's ability to deliver an exclusive product that has the potential to bring a solution to an unmet need is both clinically significant and relevant. With its strong overall performance, LifeBond has earned Frost & Sullivan's 2016 New Product Innovation Award."
"The recognition by Frost & Sullivan is the latest in a stream of recently achieved milestones, including US Food and Drug Administration (FDA) Investigational Device Exemption (IDE) approval to initiate a pivotal clinical study and receipt of CE marking in Europe earlier this year," said LifeBond CEO Gideon Sturlesi. "All of the above strongly validate the novelty and importance of the product as well as its clinical advantage in the surgical sealant market. It is our intention to continue building on this strong momentum in terms of clinical development and commercialization to the benefit of patients, surgeons, and hospitals alike."
About Frost & Sullivan
Founded over 50 years ago, Frost & Sullivan is recognized as a global market analysis and solution leader with offices located in more than 50 cities around the world. The Company's Best Practices Awards, highly respected in the global market, recognize superior products and services, strategic alliances, technological innovations, mergers and acquisitions, and initial public offerings.
LifeBond is a leader in the development and manufacturing of bio-surgical medical devices for tissue repair intended to improve patient outcomes and support the body's natural healing process. Being of natural origin, elastic, adhesive, durable, and absorbable, the company's devices have the potential to fill a long list of unmet surgical needs. LifeBond's LifeSeal® surgical sealant is designed to provide staple-line reinforcement in GI surgery. Reducing leakage has the potential to save patient lives, improve patient recovery, and avoid re-admissions and repeated surgeries. LifeSeal® has a CE marking for sale in the European Union (EU). In the US, LifeSeal® is an experimental device, not yet available for sale, and is available only for use in the approved IDE study. LifeBond's LifeMesh™, a self-fixating hernia mesh, is in pre-clinical development. Other pipeline products include tissue adhesives and absorbable hemostats. LifeMesh™ and other LifeBond products are investigational and have not yet been approved for sale in the US or in any other market. For more information please visit http://www.life-bond.com.
Certain statements made throughout this press release that are not historical facts contain forward-looking statements regarding the Company's future plans, objectives and expected performance. Any such forward-looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks and uncertainties and, therefore, there can be no assurance that actual results may not differ materially from those expressed or implied by such forward-looking statements.