Israeli medical device company Nurami Medical has completed a $6 million financing round led by Almeda Ventures with additional founding partners, Amir Blatt and Tzachi Sultan. Leon Recanati's private equity investment company, Glenrock, also joined this round as well as additional investors.
The Haifa-based company is developing technology that facilitates post-surgical healing of soft tissue healing.
Nurami Medical was established in 2014 by Dr. Amir Bahar, co-CEO Nora Nseir Manassa and NGT3VC venture capital fund, which focuses on beginning stage life science companies, and is managed by Zohar Gendler and Nizar Mishael. Nurami Medical has previously raised $5 million from investors and the Israel Innovation Authority.
The financing will be used to fund completion of the ongoing clinical trial for Nurami's first product, ArtiFascia, intended for healing and repair of the dura following cranial neurosurgery, and to fund regulatory approval processes from the FDA and the CE. The clinical trial will test ArtiFascia in 90 patients, of which 13 have already been implanted with the ArtiFascia graft.
ArtiFascia is a patented, synthetic dural graft that protects the brain after neurosurgeries by boosting dura regeneration, while preventing cerebral-spinal fluid (CSF) leakage, to protect both the brain itself and central nervous system.
Nurami Medical's technology is based on biodegradable, synthetic nanofibers with sealing properties for soft tissue healing.
Nurami co-CEO Hanoch Markshield said, "Our first product, ArtiFascia, offers clear clinical and economic benefits to the 600,000 neurosurgeries performed annually, representing a $1 billion market with an annual growth rate of 6%. Nurami thanks its new investors for the trust that they have put in our company, and will use the investment funds to complete the clinical trial, to fund additional R&D and to support business development efforts."
Nora Nseir Manassa added,, "Nurami is involved in ongoing efforts for the development of additional solutions for soft tissue repair and healing, for additional clinical indications, based on our technological platform which incorporates novel materials and unique manufacturing processes."
Published by Globes, Israel business news - en.globes.co.il - on November 3, 2020
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