Almeda Ventures R&D Partnership (TASE: AMDA.L) has announced that portfolio company Nurami Medical has recruited all the patients for a clinical trial in nine hospitals in five countries on its product to repair soft tissue damaged during neurosurgery.
Israeli company Nurami has developed innovative technology for repairing soft tissue and speeding up the recovery process after surgical procedures. The clinical trial currently taking place is on a blind model and is being conducted in order to receive FDA marketing approval in the US and the CE mark in the EU for its first product ARTIFASCIA.
Nurami's first product is a patent protected synthetic implant for restoring and repairing membranes after surgical procedures. The product breaks down inside the body after it is implanted and allows renewed growth of the brain's membranes while protecting the brain from the danger of infection and the leakage of fluid from the brain, which can happen after neurosurgical procedures. The potential market for Nurami's first product comprises about 600,000 surgical procedures annually worth an estimated $1 billion, and which is expected to grow at an annual rate of 6% to $1.4 billion in 2024.
Nurami was founded by Nora Nseir and Dr. Amir Bahar and is managed jointly by co-CEOs Nora Nseir and Hannoch Marksheid. In addition, Nurami is developing solutions and products for healing and repairing other soft tissues in the body, and these products are in various development stages, and will be part of the overall products that Nurami will put onto the market. This market is expected to grow to about $26.5 billion by 2025.
Almeda Ventures invests in companies in the digital health, medical devices and bio-convergence sectors. Almeda Ventures has invested $2 million in Nurami as part of its most recent financing round, of which $1 million was invested at the time of the first closing, and $1 million more after completion of the milestone of recruiting 80% of the patients in October 2021. Nurami has raised to date an overall amount of about $11 million from the Israel Innovation Authority and other investors including the NGT3 venture capital fund and investors from China.
Published by Globes, Israel business news - en.globes.co.il - on January 27, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.