Sources inform “Globes” that Angioslide, a graduate of the Naiot Technological Center in Nazareth, has completed an $8.25 million fund raising round. The round was led by Agate Medical Investments , headed by former minister of health Dani Naveh. Existing investors Ofer Hi-Tech Investments, owner of the Naiot incubator, and D Partners of Shlomo Dovrat’s Viola Group, also took part in the round.
Angioslide was founded in 2005 in the Naiot incubator by Eran Hirszowicz and the company Degania Silicon. It has sales in Europe, and expects revenue of several million of dollars in the coming year. In the next few months, Angioslide expects to receive approval from the US Food and Drugs Administration to sell its product. Once approval is received, sales in the US will start immediately.
Angioslide has developed an angioplasty balloon designed to prevent embolisms. The process of inflating a standard angioplasty balloon can cause the sclerotic layer on the walls of the blood vessel to disintegrate, so that small particles are swept away by the blood flow and block smaller blood vessels. These embolisms can lead to the amputation of toes, renal failure, stroke, or myocardial infarction, depending on the location of the procedure.
Angioslide CEO Doron Besser says, “Today, it is usual practice to deal with the problem by inserting a filter in advance. The filter prevents particles from travelling beyond a certain point. However, the filter makes the procedure dearer, takes time to insert, requires special expertise, and doesn’t always really succeed in fully blocking the blood vessel.” In addition, the filters are officially approved for use only in the heart and neck areas, and not for procedures treating embolisms in limbs and the kidneys.
Angioslide’s product contains the solution within the balloon itself. After the balloon is inflated within the blood vessel, a hook on the guidewire is gently pulled backwards, pulling after it the far end of the balloon, so that it folds back within the balloon, forming a hollow cone. This creates negative pressure in the space vacated by the end of the balloon that draws into it the problematic debris. Then, when the balloon is deflated, the debris at the bottom of the cone is trapped inside and can easily be pulled out.
The company’s first product is designed for use in opening blocked blood vessels in limbs, where there is currently no competition from the filter method, so that there is no need for comparative trials. The regulatory process on this track is also shorter 510(k) in the US. Later, the company intends to expand into other procedures, such as embolisms around the heart and kidneys and in the neck.
Published by Globes [online], Israel business news - www.globes.co.il - on August 6, 2009
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