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August 6, 2009

VC Firm, Agate Medical Investments Leads $8.3 Million Investment Round in Angioslide

Filed under: Venture Capital News — admin @ 5:41 am

Israeli medical device company, Angioslide announced today that it has raised $8.3 million in a funding round led by Agate Medical Ventures. Other vc firms that participated in this round of funding include Ofer Hi-Tech Investments and the Viola Group.

Angioslide is a medical device company that developed the angioplasty balloon that is designed to prevent embolisms caused by cholesterol deposits clogging up the arteries and veins. The angioplasty balloon is inserted into the artery with a camera and gets inflated in the fatty deposit and removes the plug of loose fatty particles that could have the potential of creating a fatal embolism. Angioslide was founded in 2005 by Eran Hirszowicz and the Degania Silicon Company. Since its founding, Angioslide has had sales in Europe and will begin sales in America soon.

According to Angioslide’s CEO, Doron Besser, the common practice for dealing with embolisms today is by inserting a filter into the affected area in the artery and prevents particles to travel further in the bloodstream. The filter, however, can be a problem and needs special expertise to be implanted. Furthermore, the filter is only approved for the arteries around the heart and the neck area, and is not always successful and does not protect the kidneys and limbs from embolisms. The product that Angioslide offers is not the typical angioplasty balloon, but a balloon with a solution inside. The Angioslide balloon is inserted into the affected area where it is then inflated. After the balloon is inflated, it then gets folded back and removes the harmful particles from the affective area, therefore preventing the particles from moving further into the cardio-vascular system, potentially causing an embolism. The way this solution works is by having a hook on the guide line at the far end of the balloon and as the balloon is folded back it forms a hollow cone that can then scoop out the fatty particles.

The first product that was designed by Angioslide was originally designed to open blocked blood vessels within the limbs. The blocking of blood vessels in the limbs is not always given its due attention as is that of blocked vessels to the heart and brain get, which is the leading cause of heart attack and stroke. Blocked blood vessels to the limbs, however, can lead to necrosis of the limb and eventually require that limb to be amputated. Furthermore, unlike for arteries near the heart or neck areas, there is no filter designed for the limbs, therefore Angioslide does not need to do any comparative trials with its new balloon.

Agate Medical Investments is an Israeli vc firm that has a vision of becoming a leader in the medical and healthcare industries by investing exclusively in companies that can revolutionize the medical industry. The partners at Agate Medical Investments are dedicated to the belief that healthy returns can be created over a short period of investments. Other companies in Agate’s portfolio include Tulip Medical, Navotek Medical, BrainsGate, and others.

For more information about Angioslide, click here.

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