Alfred Mann Institute backs Israeli laser ablation upstart in Series A round
Israeli startup Eximo Medical has gained a tiny $1.6 million Series A financing to get into the clinic with its disposable catheter that combines an ablation laser with a surgical blade. The device technology, known as Cathi, is expected to improve accuracy and offer superior precision in navigating vessel blockage regardless of the type or size of lesion.
The company expects to develop a set of catheters based on the tech; it will start with one aimed at treating peripheral artery disease (PAD). It's slated to start a trial in that indication in Europe and Israel during the fourth quarter.
"We have been engaged in the development of our Cathi technology for several years and are excited to have reached the stage to take its main application--the treatment of PAD patients--through its FIH (first in human) clinical trials later in the year," said Eximo chairperson Dr. Irit Yaniv. "We have every faith in the relevance of our laser system and hybrid catheters which we believe will have several advantages over existing solutions in the market."
PAD affects as many as 12 million Americans and is the underlying cause of about two-thirds of limb amputations. In the U.S. alone, roughly 122,000 PAD-related amputations are performed annually at a hospital cost of $8.3 billion.
Eximo is also developing the Cathi technology for lead extraction for defunct, malfunctioning or infected pacemaker or fibrillator leads. The company was founded in 2012 and is dedicated to transluminal solutions for interventional vascular and gastrointestinal procedures.
In the new financing, Israeli early stage medical device investor Accelmed led the round with participation from the nonprofit Alfred Mann Institute at the Technion, the Technion R&D Foundation and an undisclosed private investor.
- here is the release
Israeli startup unveils cloud-based mobile fetal monitor
Philips and Teva unveil new med tech incubator in Israel
Israeli colon capsule maker bucks M&A trend with plans for $60M IPO
Boston Scientific eyes Israel in global marketing push
How did Israel become a hotbed for medical devices?