Israeli medical device company Vectorious Medical Technologies has closed a $5 million financing round. Investors in the round included the RadBioMed incubator, which is owned jointly by Yehuda Zisapel and Prof. Nava Zisapel; several private investors, including Zohar Gilon, Gur Muntzer and others; and the US-based Global Cardiovascular Innovation Center (GCIC) of the Cleveland Clinic. Vectorious will use the proceeds to continue development as needed to initiate first in-human trials in collaboration with senior US and Israeli cardiologists.
Vectorious is developing a novel cardiac monitoring system for congestive heart failure (CHF) patients.
Vectorious founder and CEO Oren Goldstein said, "We are gratified to close this major new financing round, a vote of confidence from these strategic investors in the potential of our groundbreaking CHF management approach. Our solution will make daily monitoring a routine component for CHF patients and their physicians, similar to glucose monitoring for diabetes patients. This will lead to reduced CHF morbidities and readmissions, a higher quality-of-life for CHF patients, and huge financial savings to the health system.”
Vectorious's medical device is based on a miniature wireless implant to enable daily “push button” readings of left atrial pressure, a platform that will enable optimal management of congestive heart failure (CHF). The system implements a novel approach to long-term, implant-based hemodynamic monitoring that leverages state-of-the-art technologies in the areas of miniature sensing and wireless communications.
Market acceptance of the implantable hemodynamic monitoring approach to CHF management has been paved by the May 2014 FDA approval for commercial use of the CardioMEMS wireless implant device for monitoring patients with heart failure. The company believes, however, that Vectorious’s differentiated monitoring approach, which is based on the measurement of left atrial pressure, provides an earlier and more specific cardiac indication than does the CardioMEMS device, which measures pulmonary artery pressure.
Published by Globes [online], Israel business news - www.globes-online.com - on February 25, 2015
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