Endogun raises $2.2 million

The financing round gave Endogun a company value of $7 million.

Engun Medical Systems Ltd. has raised $2.2 million at a company value of $7 million, before money from Cure Investments Ltd. and Pontifax Fund. The company issued warrants exercisable after 36 months at the share price for the current financing round.

Endogun is developing minimally invasive techniques for soft-tissue fastening and attachment. Biomedix Incubator Ltd. (TASE:BMDX) subsidiary Meytav Technological Enterprises Innovation Center Ltd. owns 24.15% of the company, Cure, also a Biomedix subsdiary, owns 7.9%, and Pontifax owns 20%.

Published by Globes [online], Israel business news - www.globes-online.com - on July 16, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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