Wound care treatment developer EnzySurge Ltd. has raised $4.1 million, at a company value of $20 million. The company said that it originally planned to raise $2.5 million, but increased the amount on strong demand.
EnzySurge has raised $11 million altogether, including the present round. All the funding has come from private investors, including doctors, scientists, and businesspeople. No venture capital funds have invested in the company.
EnzySurge chairman Eli Gilboa of the Gilboa & Licht CPA firm organized the financing. Some of the investors have invested in vision-based advanced driver assistance systems developer Mobileye Ltd.
Gilboa said that EnzySurge has received an offer from underwriters for an IPO on the Tel Aviv Stock Exchange (TASE), but the company had not yet decided whether to go this route.
EnzySurge CEO Amir Shiner said, "This investment will enable us to speed up penetration of the US market, where we recently began sales, while also expanding our marketing efforts to Europe in 2010."
Last month, EnzySurge obtained US Food and Drug Administration (FDA) approval for its SilverStream solution for the management and moisturizing of wounds, such as pressure and stasis ulcers, diabetic foot ulcers, post-surgical wounds, and first and second degree burns. The FDA also cleared the DermaSept, an over-the-counter version of SilverStream for the management and moisturizing of minor cuts and burns and abrasions.
Published by Globes [online], Israel business news - www.globes-online.com - on January 5, 2010
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