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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.

Align Technology acquires intra-oral scanning provider Cadent for $190 million March 31, 2011

Posted by israelhealthcare in Medical Device, orthodontic.
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Align Technology, the manufacture of invisalign system for treating misalignment of teeth, has acquired intra-oral scanning provider solutions Cadent for $190 million in cash. The acquisition will accelerate adoption of intra-oral scanning among dental professionals and create greater value for existing Invisalign users.

The acquisition of Cadent follows the January 2011 announcement of a joint development agreement between Align and Cadent to co-develop Invisalign software applications that will run on Cadent scanners. The acquisition builds on the development agreement by providing a dedicated digital scanning platform for delivering Invisalign chair-side applications to dental practitioners and extends Align’s presence into restorative dentistry.

As part of an ongoing program to evaluate interoperability of intra-oral scanning systems for future use with Invisalign treatment, Align is in final beta tests with Cadent’s systems and expects to announce interoperability for their scanners in the second quarter of 2011.

Cadent is a provider of 3-D digital CAD/CAM solutions for the orthodontic and dental industries. Cadent’s offerings improve the efficiency and effectiveness of orthodontic and dental treatments while increasing the revenue of dental healthcare providers.

Headquartered in Carlstadt, New Jersey and with a development center in Or Yehuda, Israel, Cadent is backed by a syndicate of venture capital investors including Fortissimo Capital, Apax Partners, Panorama Capital (JPMorgan Partners), IBT, STAR Ventures and SV Life Sciences.

Align Technology is a public traded medical device company, designs, manufactures and markets Invisalign, a proprietary method for treating malocclusion, or the misalignment of teeth. Invisalign corrects malocclusion using a series of clear, nearly invisible, removable appliances that gently move teeth to a desired final position. The company ended 2010 with record net revenues of $387 million, an increase of 24% from $312.3 million reported for fiscal 2009, and with a net profit of $74 million.

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Medical device company superDimension raises $24.8 million September 14, 2010

Posted by israelhealthcare in Medical Device, Medical Diagnostic.
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Medical device company superDimension has raised $24.8 million in debt and equity financing in two separate transactions. The capital raise included a $9.8 million equity round of financing and a new $15 million credit facility with Oxford Finance. All of the Company’s existing investors participated in the equity financing, including OrbiMed Advisors, Oxford Biosciences Partners, Pitango Venture Capital, Medica Venture Partners, and Dan Sullivan Investments.

superDimension develops catheter based devices for use in the minimally invasive diagnosis and treatment of early stage lung cancer and other diseases, using the patient’s natural airways to avoid surgery. The superDimension i-Logic system enables physicians to diagnose benign and malignant lung lesions enhancing treatment decisions and avoiding the need for higher-risk procedures.

“Since its commercialization, our i-Logic system has experienced strong physician adoption. Electromagnetic navigation bronchoscopy (ENB) has been performed more than 14,500 times and is used in over 275 hospitals worldwide,” said Daniel J. Sullivan, president and CEO at superDimension. “This additional financing will allow us to further strengthen our commercial infrastructure and sales and marketing team, expanding the benefits of the i-Logic system and ENB to a wider patient population.”

Founded in 1995 by Pinhas Gilboa, superDimension is headquartered in Minneapolis, Minnesota, with other offices located in Dusseldorf, Germany, and Herzliya, Israel. The company has more than 100 employees worldwide.

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C-Boot released new mobile intermittent pneumatic compression device June 10, 2009

Posted by israelhealthcare in Medical Device.
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Compression therapy products provider C-Boot has released a new mobile Intermittent Pneumatic Compression (IPC) Device. The C-Boot Elastic model enhances the effectiveness of C-Boot in treating Chronic Venous Insufficiency (CVI), venous ulcers, Lymphedema, and other conditions that require compression therapy, including the enhancement of blood circulation during recovery from coronary artery bypass graft surgery and orthopedic hip and knee replacements.

“The new C-Boot Elastic is an important step in our strategy to become a leading, manufacturer of innovative wearable compression devices,” said Ronen Castro, C-Boot CEO. “One of the enhancements we made to the Elastic model is in the foot portion of the C-Boot. The Foot portion is now designed ergonomically as elastic sock and is perfectly fitted with any size of foot or width. These changes have made C-Boot Elastic very easy to wear with almost every regular shoe and provide better comfort to the patient.”

C-Boot develops and manufactures advanced compression therapy products powered automatically by energy generated from the patient’s body. C-Boot products are mainly prescribed by dermatologists, orthopedics, wound-care experts, physiotherapists, cardiac and vascular experts for treating various of medical conditions, like, DVT prevention, Ulcers and Lymphedema.

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Dune Medical closed $12.5 million second round of venture financing led by Apax Partners June 29, 2006

Posted by israelhealthcare in Medical Device.
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Israeli medical device company, Dune Medical, has closed a $12.5 million second round of venture financing led by Apax Partners who invested $11.5 million in the round. Apax also led the $7.5 million first round which closed in 2004.

This funding will be used to complete pivotal U.S. clinical studies of Dune’s BP probe and console system, attain market clearance of the BP system in the U.S. by the Food & Drug Administration (FDA).

Dune has also received the European Union CE Marking designation for its disposable BP probe and console system. The intended use for the probe and system is to enable intraoperative, on-contact measurement of suspected tissue surfaces during a lumpectomy (partial mastectomy) procedure. The CE mark permits Dune to market its device throughout the European Union.

“The Dune BP probe and console system will enable surgical oncology teams to consistently obtain cleaner margins during the initial procedure,” said Amos Goren from Apax Partners and director of Dune’s board. “This has the potential to drastically reduce the disturbingly high rate of re-excisions, and there is a particularly noteworthy need for this especially in breast cancer.”

Headquartered in Ceasarea, Israel and founded in 2002, Dune Medical Devices is engaged in the development and commercialization of devices for real time tissue characterization. Dune’s first commercial product is a disposable hand-held device that facilitates complete tumor removal. The device will be used by surgeons performing lumpectomies in order to assess tumor margin in real time.

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