Neurosonix raises $12m

Neurosonix has developed a device intended to prevent coronary embolisms from reaching the brain.

Medical device company Neurosonix Ltd. has raised $12 million from the companies and funds Elron Electronic Industries (Nasdaq: ELRN; TASE: ELRN) ($5 million,) Evergreen ($2 million,) Ofer Hi-Tech Ltd. and Yozma ($3 million jointly) and Peregrine ($2 million) at a company value of $27 million.

Neurosonix has developed a device intended to prevent coronary embolisms from reaching the brain where they may be lethal. The device is based on ultrasound technology, which diverts the embolism from the arteries leading to the brain, in a non-invasive manner, and prevents them from reaching the dangerous area. The ultrasound is placed outside the arteries, inside the open chest cavity, above the aorta, and creates waves which divert embolisms out of the arteries leading to the brain and back into the body. This is done without disrupting the flow of blood to the brain.

Published by Globes [online], Israel business news - www.globes.co.il - on August 27, 2006

© Copyright of Globes Publisher Itonut (1983) Ltd. 2006

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