The financing round was led by Pontifax Fund, a group of US doctors, and Poalim IBI.
Endogun Medical Systems, a Meytav Technological Enterprises Innovation Center Ltd. graduate, raised $1 million in a financing round led by Pontifax Fund, a group of US doctors and Poalim IBI Underwriting and Investments (TASE: PIU)
Meytav owns 44% of Endogun after the round. Pontifax owns a share of Endogun indirectly, through its holding in Biomedix Incubator Ltd. (TASE:BMDX.M), owner of 75% of Meytav.
Endogun is developing products for minimally invasive treatments, mainly for urology and gynecology. The company's flagship product, the EndoFast, is a device which enables the "fastening" of tissues to each other using bands of flexible material with tack-like ends which stick to the tissue. The company intends to market the device for two primary surgeries: pelvic floor reconstruction and prevention of incontinence during strain. The company was founded by Dr. Adrian Paz, head of the laparoscopy department at Barzilai Medical Center. He also founded the companies: Bioprotect, Newphase and VPC. VP of business development Jonathan Goldstein, formerly of Jerusalem Global Ventures (JGV), InnoMed Ventures , Vision RT and Galil Medical Ltd.
Published by Globes [online], Israel business news - www.globes.co.il - on August 24, 2006
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