Laparoscopic surgery closure device developer Gordian Surgical Ltd. has raised $1 million from angel investors, surgeons, and a private investment fund. The company was able to raise 30% more than planned. The company will use the proceeds to finalize product design, obtain US Food and Drug Administration (FDA) and EU CE Mark clearance, and perform clinical validations.
Gordian Surgical was founded in late 2012 by CEO Zvi Pe’er. It is a Trendlines Group Ltd. portfolio company.
Gordian Surgical’s two-in-one trocar with a built-in closure device offers a safe, economical approach for opening and suturing abdominal incisions during laparoscopic procedures. Instead of inserting the sutures at the end of the procedure, the company's release mechanism sutures are inserted into the tissue surrounding the opening at the beginning of the procedure. The sutures and anchors to hold them stay in place during the operation, and the incisions are closed when the trocar is removed. The company notes that 4.4 million laparoscopic procedures are performed annually in the US alone.
“I am extremely pleased by the level of interest in our technology and the speed with which we closed the investment round," said Pe'er. "The fact that three surgeons made investments and recommendations from other surgeons support the clinical need and strongly reinforce the solution that we are developing."
Published by Globes [online], Israel business news - www.globes-online.com - on April 29, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014