Angioslide Completes $6.3 Million Financing Led by TriVentures
NATANYA, Israel, January 3, 2013 /PRNewswire/ --
Angioslide, a provider of Embolic Capture Angioplasty solutions, announced today the closing of $6.3 million financing led by new investor TriVentures. In addition Biostar joined returning investors Viola Partners, Agate and XT Investments (formerly Ofer HT) to complete the round.
"Proceeds from this Series C round will be used to continue US market expansion, improve our product offering and validate the technology in additional vascular beds," said Lihu Avitov, Angioslide CEO. "The financing will help us fuel our growth. We are excited to have TriVentures join our efforts and appreciate the ongoing support from Viola Partners, Agate and XT Investments."
Angioslide is transforming peripheral angioplasty by combining PTA balloon intervention with debris capture and removal. The PROTEUS™ device removes some of the embolic particles released during peripheral interventions enabling physicians to improve procedural outcomes in challenging interventions. Angioslide's above-the-knee product line was recently expanded to include a below-the-knee, low-profile 0.014" platform.
Over 10 million people suffer from peripheral artery disease in the US alone. In recent years, catheter-based interventions have become the primary therapeutic approach for these patients. With the increase in life expectancy, diabetes prevalence, and number of high-risk patients, physicians are seeking to expand the current interventional "tool box" to improve procedure outcomes.
"Angioslide is a very exciting opportunity that can truly help PAD patients reconstitute their vascular flow," said Michal Geva, Co-Founder and a Managing Partner of TriVentures. "This is one of TriVentures' first investments in which the clinical, regulatory and commercial challenges are mitigated, and we look forward to working with the team in bringing this technology to expanded commercialization in the USA."
Founded in 2005, Angioslide is a privately held medical device company that has developed a unique Embolic Capture Angioplasty solution, PROTEUS™, which provides a combination of PTA balloon and embolic capture and removal. The PROTEUS device addresses an unmet need for an easy-to-use, efficient and cost-effective embolic particle capture solution for the peripheral vascular disease market. It is the first device of its kind to receive FDA clearance for use in lower limbs. The device has also received European CE Mark approval for lower limb use and is being marketed in selected regions in Europe. Angioslide headquarters are located in Natanya, Israel, with regional offices in Europe and the US. For more information visit our website at http://www.angioslide.com
TriVentures is an Israeli based venture capital fund specializing in medical device technology investments. The fund leverages close relationships with key opinion leaders and strategic partners to identify, innovate and transition new medical device technologies to industry players for the benefit of patients, physicians and healthcare payers.
SOURCE Angioslide Ltd.
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