Yozma and Israel Healthcare Ventures invested in the company's first financing round. Based in the Naiot Technology Center, CorAssist is preparing its device for preclinical trials.
New start-up CorAssist Cardiovascular, based in the Naiot Technology Center has raised $500,000 from Yozma and Israel Healthcare Ventures (IHCV) in its first financing round. Founded 18 months ago, CorAssist is developing an assist device for treating diastolic heart failure (DHF), a type of congestive heart failure (CHF). Its CEO is Dr. Lea Lak MD.
Yozma and IHCV made an early stage investment in CorAssist to help accelerate development of its product.
CorAssist chairman Lihu Avitov said, "CorAssist is the first company developing a surgical device for DHF. The current investment will enable the company to move forward on preclinical trials and organize for its next financing round."
Naiot, controlled by Ofer Brothers Hi-Tech is an incubator for life sciences and software start-ups. Naiot builds high-tech companies through capital investment and providing comprehensive strategic and R&D management assistance.
Published by Globes [online] - www.globes.co.il - on July 20, 2004