Sources inform ''Globes'' that Deep Breeze Ltd. has obtained US Food and Drug Administration (FDA) approval for its vibration monitoring imaging device for lung functioning. The company's VRI System does not use radiation and is non-invasive.
Deep Breeze CEO Dr. Michael Nagler told "Globes", "After a decade of research and trials, this approval opens the widest channels to the company. Our device can help doctors with diagnoses."
Dr. Yigal Kushnir founded Or Akiva-based Deep Breeze in 2001, and the company has raised $30 million to date from Vitalife Life Sciences Venture, which has been with the company from the beginning, Kreos CapitalAviv Venture Capital, Nisko Industries Ltd. (TASE: NSKO), SCP Private Equity Partners, Union Investment Enterprise Ltd..
The VRI System can help diagnose cardiopulmonary diseases, including chronic obstructive pulmonary disease (COPD), asthma, and heart arrhythmia, at hospitals, clinics, and at home. The FDA approval covers use of the device at hospitals for breathing disorders.
Deep Breeze has a marketing agreement with GE Healthcare for distribution of the VRI System at intensive care wards.
What do you offer hospitals? \
Nagler: "Reducing congestion in emergency rooms. Today, when a patient arrives at an ER, doctors need an average of two hours to make a diagnosis. We can shorten the process."
The VRI System has already been installed at hospitals in the US. Nagler says, "I hope that they will soon publish the results, which will be the trigger for speeding up sales."
In the past, Deep Breeze was a candidate for an IPO. What's the current status of these plans?
"We’re examining the option in depth."
Published by Globes [online], Israel business news - www.globes-online.com - on June 1, 2010
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