Israeli laparoscopy company Gordian Surgical has closed a $2.25 million financing round. German medical device company, B. Braun Melsungen AG led the investment round with €1 million, with the remainder from current shareholders and three VC funds, two of which are Chinese funds. Gordian Surgical was founded in late 2012 by CEO Zvi Pe’er. It is a The Trendlines Group Ltd. (SGX: 42T, OTCQX: TRNLY) Trendlines Medical portfolio company based at the Misgav Business Center in the Western Galilee.
The funds raised in this round will be used to start marketing and distribution in the US and Europe. Gordian also announced it has received US Food and Drug Administration (FDA) regulatory clearance for its TroClose1200, an innovative trocar with integrated closure system for the suturing of abdominal wall incisions during laparoscopic surgical procedures. The FDA approval follows Gordian's receipt of CE Mark certification in September.
Gordian Surgical developed TroClose1200 to give surgeons "two-in-one" functionality: the device acts both as a trocar, through which surgical instruments enter the abdomen, and a device to close internal incisions made during surgery. The sutures are inserted into the tissue at the beginning of the procedure and anchored to remain in place throughout the operation, allowing incisions to be closed easily and quickly upon removal of the device.
Gordian Surgical CEO Zvi Pe'er said, "Receiving FDA clearance is a huge milestone in Gordian's strategic roadmap. The recent investment, led by B. Braun, allows us to move rapidly towards commercialization of our device in the US, Europe and other markets. Major interest in TroClose was evidenced at the recent MEDICA 2016."
Prof. Michel Vix, Head of the Bariatric and Metabolic Surgery Unit, University Hospital of Strasbourg, France, Scientific Co-Director, IRCAD Institute said, "Gordian's TroClose is a very effective system, easy to use and especially useful for younger surgeons, as the learning curve is very short. TroClose has significant advantages over other gold standard closure devices on the market. Indeed, there is definitely a place for this product in the market."
Prof. Dr. Hanns-Peter Knaebel, a member of the B. Braun Management Board and CEO of their Aesculap division added, "Our decision to lead this investment in Gordian Surgical, a Trendlines' portfolio company, was based on the unique design of the TroClose1200 and the great potential we see in the global laparoscopic market for a closure/trocar integrated device. We expect the TroClose1200 to save time for surgeons and reduce anesthesia time for patients. FDA clearance, received so shortly following receipt of CE Mark, confirms our confidence in Gordian Surgical's management."
Published by Globes [online], Israel business news - www.globes-online.com - on December 7, 2016
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