Xenia Venture Capital, Virginia Life Science Investments, and a third party made the investment.
Biodegradable balloon start-up BioProtect Ltd. has raised $700,000 from Xenia Venture Capital Ltd. (TASE:XENA), Virginia Life Science Investments LLC, and a third investor whom the company declined to disclose.
BioProtect's ProSpace product is a biodegradable balloon that creates a physical separation between pathologic (benign or malignant) and healthy tissues during radiation therapy, reducing the effects of radiation on surrounding, healthy tissues. The product has EU CE Mark certification, allowing sales in Europe. The company has also completed a US Food and Drug Administration (FDA) protocol clinical trial, which included 26 patients in the US, Europe, and Israel.
BioProtect has a distribution agreement with an Italian company.
Published by Globes [online], Israel business news - www.globes-online.com - on September 7, 2011
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