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Itochu Corporation, Japan, led this second round of financing withsupport from Ofer Hi-Tech, Israel and Viola Partners, Israel, who bothparticipated in the previous financing round.
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The Angioslide eXtra balloon angioplasty catheter offers balloonangioplasty with embolic particle capture creating a first of its kinddevice. When performing Angioplasty physicians typically take a two-stepapproach using both an embolic protection device and a balloon angioplastycatheter. The Angioslide eXtra takes this two-step, two-device process andreduces it to one single instrument, used for one single procedure, with aminimized procedure time and significantly reduced costs.
"After 30 years of balloon angioplasty, this is the first time that aballoon can do more than standard inflation and deflation and the responsefrom the medical community has been remarkable. Imagine a lower limbangioplasty product that functions as both a balloon catheter and an embolicprotection device," said Doron Besser, CEO of Angioslide. "With theincreasing amount of procedures being performed in the lower limbs and otherperipheral regions causing a higher rate of embolic events, it is clear fromcapitol infusion we have received that the Angioslide eXtra is addressing anunmet need. I can't think of a better qualified investor group to partnerwith than, Itochu, Ofer Hi-tech and Viola, as we look to FDA approval laterthis year and initiating European and U.S. sales."
"We are very proud of the first involvement with the Itochu Corporation.The strong management team coupled with an innovative product offeringpromises to change the landscape of angioplasty and peripheral vasculardisease treatment," said Lihu Avitov, Executive Vice President, Ofer Hi-Tech.
About Angioslide, Ltd. Angioslide was founded in 2005 in Herzliya,Israel. They have developed a unique angioplasty balloon catheter that hasdual functionality in a single device: balloon angioplasty with embolicprotection. The Angioslide eXtra addresses an unmet need for an easy-to-use,efficient and cost-effective embolic protection solution for the peripheralvascular disease market. It is the first device of its kind to seek FDAclearance for use in lower limbs. The device has received European CE Markapproval for lower limb use with FDA clearance expected by end of year 2008followed by application for renal use. For more information contact DoronBesser at [email protected]: Doron Besser +972-9-955-6500 [email protected]
SOURCE Angioslide Ltd.
