Israeli start-up SPM Recovery Technologies is planning to raise $2-3 million to finance controlled clinical trials and establish a distribution network, SPM president and chairman Artzi Yarom told ''Globes''. SPM is now starting clinical trials of its treatment for chronic leg ulcers.
Yarom said SPM has not yet begun negotiations to raise capital, but has decided to approach venture capital funds specializing in medical equipment. The company restructured its management in recent months, appointing Yarom as president and chairman, and Oren Malkin as CEO. A science advisory committee was also set up, headed by Prof. Morris Azaria, former chief of Tel Hashomer Medical Center's orthopedic rehabilitation ward.
SPM has developed a topical treatment for chronic leg ulcers, using high concentrations of ozone and oxygen on the infected area. These leg ulcers are common on patients suffering from diabetes mellitus, venous or arterial insufficiency, or a combination of these.
The treatment uses a microclimate chamber on the infected area, which deliveres controlled amounts of ozone and oxygen topically to the wound area. The ozone disinfects the wound, the oxygen hastens its cleaning and the growth of new tissue, and the vacuum sweeps up the diseased tissue, improving blood circulation in the area. The treatment has no side effects.
SPM's system received EU CE Mark and Israel's Ministry of Health certification last year. The company is now conducting controlled clinical trials at Assaf Harofe Hospital. Yarom says earlier clinical trials on 103 patients at the Bnei-Zion Hospital in Haifa had an 83% success rate.
Published by Globes [online] - www.globes.co.il - on June 23, 2002