Aspect Magnetic Technologies Ltd. has raised $25 million. Roll International Corporation, a private US company, led the round, and was joined by Steimatzky Books chairman and CEO Ari Steimatzky. Steimatzky invested in Aspect's first financing round, and retained his holding in the present round.
Aspect develops mobile MRI systems for imaging specific parts of the body, such as the hand or head. CEO Uri Rapoport founded the company in 2000. Small MRIs usually have low power and resolution. Rapaport says that Aspect's products offer the high resolution of full-sized MRIs, while isolating the magnet from the environment.
"You can place a computer on top of our device, and it will continue to work," Rapaport says.
Aspect's products are sold to the preclinical and agricultural markets. The company is initiating registration with the US Food and Drug Administration (FDA) for sale to the clinical market. The company has $4 million in annual sales.
Published by Globes [online], Israel business news - www.globes-online.com - on January 16, 2011
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