Flexicath has set up a joint venture with Pittsburgh Life Sciences Greenhouse (PLSG).
Catheter development company Flexicath Ltd. has signed a $1 million cooperation deal with the Pittsburgh Life Sciences Greenhouse (PLSG).
Flexicath, which has developed a sterile catheter, has set up a US subsidiary for the purposes of the cooperation agreement. As its part of the new joint venture, PLSG will finance the Israeli company's marketing campaign and the subsidiary's CEO, and will provide other services such as external consultants and access to data banks.
Flexicath, managed by Shai Amisar, recently received approval from the US Food & Drug Administration (FDA) to market its product in the US, and is currently looking to raise $1.5 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 16, 2009
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