Biomed Company ConTIPI Acquired For $90M

Israeli Biomed company ConTIPI has been sold for approximately $90 million to an international company whose name has not been disclosed. ConTIPI, founded in 2002 by gynecologists Dr. Ilan Ziv and Zeev Bronfeld, is developing a tampon-like device for the prevention of urine leakage and treatments of faulty functioning of the cervix in women. The sale is subject to approval of the US Food and Drug Administration (FDA) and Office of the Chief Scientist.