Xenia Venture Capital Ltd. (TASE:XENA) portfolio company NeatStitch Ltd. has raised $1.5 million. Virginia Life Sciences Investments (VLSI) and Xenia led the round, each investing $500,000. VLSI will also support Neatstitch's US marketing efforts.
The round allows for new and current investors to invest an additional $500,000 in Neatstitch, which could include a larger investment by VLSI.
VLSI will also support the company's US marketing efforts.
Neatstitch has developed a device for automated internal stitching in the abdominal cavity following laparoscopic surgical procedures.
VLSI has previously invested in Xenia portfolio company Bioprotect Ltd., which is developing biodegradable implants, and in Misgav Technology Center portfolio company Virtual Ports Ltd., which is also developing tools for abdominal surgery.
Published by Globes [online], Israel business news - www.globes-online.com - on November 8, 2009
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