Israel Infinity leads financing round for Nicast

Israel Infinity Venture Capital invested an estimated $5 million.

3 March 04 14:47, Batya Feldman

Nicast has completed a financing round led by Israel Infinity Venture Capital, which invested an estimated $5 million. Israel Infinity will initially invest $1 million. The round will remain open to more investors.

Founded in 1995, Nicast develops new vascular products, including artery grafts, and coated stents, based on new nano-scale manufacturing technology. TechnoPlus Ventures (TASE:TNPV) and Azritech Fund invested $2 million in Nicast in 2000.

Nicast's first product, a vascular implant, is in the advanced development stage. The implant acts like natural tissue and is accepted by the body, thus avoiding common transplant complications. Company sources have said in recent months that Nicast has been negotiating strategic agreements with leading companies.

Published by Globes [online] - www.globes.co.il - on March 3, 2004