Chronic wound treatment start-up EnzzySurge Ltd. has raised $4 million at a company value of $12.3 million from private investors, led by chairman Eli Gilboa of the Gilboa and Licht accounting firm. The company has raised $7.3 million to date, including the present round.
EnzySurge's product provides a continuous streaming of therapeutics for the treatment of chronic wounds. The company predicts that it will begin premarketing trials by year-end, and that sales will begin early next year. The company has set up a sales office in the US.
EnzySurge is now completing the effectiveness clinical trial of its product in Israel, which shows that the product produces a significant improvement in wounds. The believes that it has a strong likelihood of obtaining US Food and Drug Administration (FDA) approval for its product as a "combined product" without the need for additional clinical trials. The FDA has already approved a device that EnzySurge has developed but not the combined product with chemical solution.
Published by Globes [online], Israel business news - www.globes-online.com - on June 2, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008
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