The company will use the proceeds for clinical trials of its product in the US.
Chronic wound management start-up Polyheal Ltd. has raised $1 million from current investors, including Clal Biotechnology Industries Ltd. (TASE: CBI). The company has raised $10 million to date from CBI, Challenge Fund - Etgar, Koonras Technologies Ltd., LN Technology Innovations Ltd., and Technorov Holdings Ltd.
The company will use the proceeds for clinical trials of its product in the US. The product will soon be launched in Europe following approval of its product as a medical device.
Polyheal’s product is a sterile disposable suspension for the treatment of chronic wounds. The product is based on a suspension of microspheres and do not contain additional therapeutic substances. Topical application of the product onto the lesion promotes healing in chronic recalcitrant ulcers of different etiologies - diabetic, venous insufficiency, and trauma.
Published by Globes [online], Israel business news - www.globes-online.com - on December 13, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007