Israeli aesthetic medical company Hallura closes a $7 million Series A financing round led by a group of US, Europe and Israel-based private investors - most of the investment comes from leading plastic surgeons and dermatologists. Hallura is a portfolio company of the Yokneam-based Alon Medtech Ventures owned by Dr. Shimon Eckhouse and which is part of the Israeli Innovation Authority (IIA) incubator system.
The company, which was founded in November 2017 by CEO Dr. Stéphane Meunier, Alona Gellerman, Dr. Per Hedén and chairman Dr. Shimon Eckhouse, is developing a new generation of Hyaluronic Acid (HA) Dermal Fillers.
Hallura's HA Dermal Fillers are based on proprietary technology developed by the company over the last two years. Unlike the 20-year-old technology used in currently available HA fillers which are based on using BDDE for cross-linking; Hallura developed a novel crosslinking technology answering the growing demand for natural and soft non-invasive aesthetic treatments. Hallura's products are based on a radically different crosslinking mechanism which maintains and protects natural HA long chains. Hallura completed a full set of in-vivo animal studies of its products showing excellent safety and higher potential for skin lifting compared to the leading products in the market.
Dr. Meunier said, "We are very proud of the breakthrough we achieved in the last two years: we have now a very promising HA technology platform, state of the art facilities and equipment as well as a highly qualified team. HA fillers represent the obvious first application of our technology, we plan in the future to explore other medical applications as well."
Dr. Eckhouse added, "This round will enable us to execute on our plan to build and position the company as a leader in the filler market which became the largest segment of the global, non-invasive aesthetic market."
Published by Globes, Israel business news - en.globes.co.il - on November 11, 2019
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