Israeli medical device company ProArc Medical has announced that it has been awarded a $2.2 million grant from the EU's Horizon 2020 program. The two-year grant supports further scientific studies and commercialization of ProArc's ClearRing BPH implant, a minimally invasive solution for enlarged prostates.
ProArc Medical was founded in 2010 by Dr. Yair Feld and The Trendlines Group (SGX: 42T) (OTCQX: TRNLY).
Benign Prostatic Hyperplasia (BPH), or enlarged prostate, is one of the most common urological diseases among men. As the prostate enlarges with age, it presses on and blocks the urethra, causing urinary symptoms that seriously affect quality of life. Over 50% of men in their 50s and up to 90% of men over 80 experience BPH symptoms. About one-third of these men will develop symptoms that require treatment.
ProArc's ClearRing implant is a minimally invasive prostatic reshaping implant designed to treat lower urinary tract symptoms due to BPH. Prostatic support is provided by a proprietary pre-shaped nitinol implant positioned inside the prostate tissue just under the urethral surface. The ClearRing procedure allows patients to resume their normal lifestyles and preserves patients' sexual function through a procedure that is up to twice as fast as the current standard surgical procedure.
ProArc CEO David Nitsan said, "It is an honor to be chosen to receive the Horizon 2020 grant which further affirms the need for a better BPH solution. This award represents another step forward in ProArc's journey to offer a simple and reversible procedure, with a focus on improving quality of life, to the many men in need."
Published by Globes, Israel business news - en.globes.co.il - on July 3, 2019
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