Billionaire medical devices entrepreneur Alfred Mann passed away early this year at age 90, but the fund that bears his name is still doing business in Israel. Nurami Medical from the NGT3 incubator in Nazareth today announced that it had raised NIS 2.5 million in a round led by the fund and private investors.
Nurami is a tissue engineering startup that is developing synthetic tissue designed as a perishable substitute for dura matter tissue in neurosurgery. The synthetic tissue is composed of a unique system, which prevents bacterial penetration and leaks of brain fluid, and nano-fibers that constitute a platform for renewed growth of damaged dura matter.
Founded in 2014, Nurami has obtained NIS 3 million in investments to date from the Ministry of Economy and Industry chief scientist and NGT3. The amount raised now will suffice for commencing an initial human clinical trial in 2017 and continued development of the product. The company was founded on the basis of cooperation at the Technion Israel Institute of Technology between Nurami CTO Nora Nseir, an Arab entrepreneur, and CEO Dr. Amir Bahar, and was named after them.
600,000 people a year suffer from dura matter damage as a result of surgery or trauma. Repairing damaged dura matter currently takes place in two stages. In the first stage, a piece of animal tissue is transplanted. The tissue is then covered with a separately injected liquid sealant. Nurami says that this procedure is costly, uncomfortable for the patient, and does not ensure absolute sealing against penetration by infections and brain fluid leaks. In certain situations, the surgeons are even forced to operate again in order to maintain the patient's health. The company estimates the potential global market at $900 million, half of it in the US.
Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2016
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