The company develops sterile catheter insertion systems.
Medical device start-up Flexicath Ltd. has raised $600,000 in its second financing round. Washington DC-based merchant bank The Zitelman Group led the round, which will finance sales of the company's FirmGrip sterile catheter intravenous (IV) system in the US and other countries. The US Food and Drug Administration (FDA) approved the catheter in October.
Flexicath CEO Shai Amisar, CTO Ronen Radomski, and medical advisor Prof. Paul Froom founded the company in 2004 at Misgav Technology Center. The company's patent pending catheter is an enclosed special self-contained package that permits insertion without removing the catheter from the sterilized coating sleeve, thereby eliminating the need for a separate sterile sheet. The catheter is intended for IV catheterizations that last up to 29 days. The system makes the IV insertion process faster and less expensive, and allows any member of the medical team - paramedics, nurses, and physicians - to insert the catheter.
The Zitelman Group led Flexicath's first financing round of $3 million in 2007.
Published by Globes [online], Israel business news - www.globes-online.com - on December 4, 2008
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