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LifeBond raises $20 million from Giza, Aurum, Pitango, GlenRock, Zitelman, and Robert Taub May 25, 2011

Posted by israelhealthcare in Biosurgery, Health Care Startups, Life Science, Medical Device, Medical Device Startups.
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Biosurgery device company LifeBond has raised $20 million in a new financing round led by Giza Venture Capital and Morris Kahn’s Aurum Ventures. Existing investors: Pitango Venture Capital, GlenRock Israel, Zitelman Group, and Robert Taub, also participating in this round. This third investment round brings LifeBond’s total funding to $30 million.

LifeBond is developing surgical sealants and hemostats intended for preventing leakage and bleeding. Proceeds from the round will be used for completion of the pre-clinical and clinical phases of the Company’s initial product: LifeSealGI, a sealant indicated for reinforcement of gastro-intestinal anastomoses.

LifeBond anticipates that LifeSealGI will reach the market toward the end of 2012, pending regulatory approval. In addition, the company will continue to develop its severe bleeding control product, LifePatch, which is based on the same technology platform.

“Surgical teams are actively seeking innovative wound closure products with improved performance and ease-of-use to seal surgical staple-lines and stop severe bleeding,” said LifeBond CEO Ishay Attar. “We are looking forward to using the proceeds provided by this round to bring our first products to market as early as possible. Once approved, our products will become essential parts of the surgical toolbox and significantly improve surgical care.”

LifeBond was founded in 2007 by Attar and Orahn Preiss-Bloom, the company VP Operations. The Company’s headquarters is located in Caesarea Industrial Park, Israel.

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