The new funds will be used for US commercialization of the BioProtect Balloon Implant System, which recently received FDA clearance for rectal protection during radiation therapy for prostate cancer.
Israeli balloon implant company BioProtect today announced the completion of a $28 million financing round led by MVM Partners, with participation from current investors: Triventures, KB Investments, Peregrine Ventures, Almeda Ventures, and Consensus Business Group of Vincent Tchenguiz. The new funds will be used for US commercialization of the BioProtect Balloon Implant System, which recently received FDA clearance for rectal protection during radiation therapy for prostate cancer. BioProtect CEO Itay Barnea said, "We believe that our balloon has the potential to revolutionize rectal protection from radiation toxicity during prostate cancer radiation therapy. To-date, our spacer has been successfully implanted in over 2,000 patients worldwide and has proven to be safe and effective. We appreciate the support of our new and existing investors who share our vision for the company, and are pleased to secure the resources to drive our penetration into the US market."
Published by Globes, Israel business news - en.globes.co.il - on September 27, 2023.
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Cancer