Israeli non-invasive diagnostics company CathWorks has announced the completion of a $30 million Series D financing round from new and existing investors.
The Kfar Saba company said that the funds will be used to expand commercialization of the company's FFRangio system, which is a non-invasive diagnostic technology that is used during routine angiography.
CathWorks was founded in 2013 by Guy Lavi, who served as its CEO until 2018 and is now president of the company, together with Dr. Ifat Lavi, who is CTO, and Prof. Ran Kornowski, head of cardiology at Rabin Medical Center. The company's CEO is Jim Corbett, who previously served in senior positions at Boston Scientific, ev3, Baxter, and Alphatec Spine. The company also raised $30 million in its previous financing round in February 2019.
Corbett said, "Our initial market launch demonstrated there is tremendous excitement around the clinical value of the CathWorks FFRangio System. This funding paves the way for continued commercialization and expanded access to the technology for physicians, hospitals and patients."
The CathWorks FFRangio System transforms routine angiogram images into objective and comprehensive physiology information, including color-coded 3D renderings of blood flow in the heart's arteries to help physicians optimize coronary artery disease decision making, including whether a stent is needed.
Published by Globes, Israel business news - en.globes.co.il - on January 10, 2021
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