Stent developer InspireMD Ltd. is considering holding an IPO on the Tel Aviv Stock Exchange (TASE) with the goal of raising $15 million.
InspireMD's MGuard stent has already obtained EU CE Mark certification for marketing in Europe and the company has a few million dollars in sales.
Last month, InspireMD CMO Prof. Chaim Lutan told "Globes" that, in his opinion, the company would be ready for an exit in 2010. Prof. Lutan is also head of The Heart Institute at Hadassah University Medical Center in Jerusalem.
InspireMD's MGuard stent is based on a micron level metal knit net that wraps a standard balloon expandable stent. When the stent is opened inside the artery, pressure is applied on the artery, which risks damage to the artery wall. An ordinary stent cannot prevent fatty molecules from entering the artery, whereas MGuard's small mesh prevents this. The mesh also prevents a spring stent from penetrating the artery walls and scarring.
Published by Globes [online], Israel business news - www.globes-online.com - on January 17, 2010
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