Medical device start-up superDimension has raised $24.8 million, to reach a total of over $100 million raised since its establishment 15 years ago. According to IVC, the company has raised $109.4 million, including the current round.
The company has developed minimally-invasive devices that enable the diagnosis and potentially the treatment of distal lung disease.
A majority of the current funding, $15 million, is from a credit line from Oxford Finance, a US financial institution that specializes in life sciences funding.
The company also raised $9.8 million from existing investors, which include Medica , Oxford Bioscience Parters, OrbiMed Advisors LLC, and Pitango Venture Capital.
superDimension's technology was originally developed for the toy industry - navigation for toy planes - but subsequently the firm decided to focus on the medical device market.
Published by Globes [online], Israel business news - www.globes-online.com - on September 12, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010