Hackensack Meridian Health has invested in EpiBone Inc., a biotechnology company focused on growing bone and cartilage grafts using stem cell and 3D imaging technologies, the firm announced Tuesday.
The investment in the Brooklyn regenerative medicine company represents Hackensack Meridian’s fourth investment through its Bear’s Den innovation program.
“Our industry is going to be transformed by how we leverage cellular biology and new tissue engineering to help the body repair itself, and replace damaged tissue from the impact of chronic and disabling diseases,” Bob Garrett, Hackensack Meridian’s CEO, said in a prepared statement. “Our goal is to back innovative, evidence-based approaches and products. We are confident in the science and solutions EpiBone brings to the market.”
Financial terms were not disclosed.
The Bear’s Den, launched in 2017, features a panel of experts who gather to vet proposals from entrepreneurs as an incubator.
“The Bear’s Den program continues to invest in exciting companies at the vanguard of medicine,” David Perlin, senior vice president and chief scientific officer of the Hackensack Meridian Health Center for Discovery and Innovation, said in a prepared statement. “This kind of transformative health venture is what we envisioned when we started planning for the CDI’s Institute for Restorative Health.”