August 12, 2009
VC Firm, Forbion Capital Partners Leads $18.5 Million Investment in Series F Funding for NiTi Surgical Solutions
Based in Netania, Israel, NiTi Surgical Solutions announced today that it had completed an $18.5 million series F funding round, which was led by one of the leading life science funds, Forbion Capital Partners. Other investors, who participated in this funding round including all the companyâ€™s existing investors, who are Evergreen Venture Partners, Israel Healthcare Partners, MBVC and Alice Lab, and SCP Vitalife.
NiTi Surgical Solutions is an innovative surgical device developer that primarily focuses Bio-Dynamix, which is natural healing and has the potential to have a much better outcome for both patients and physicians. This financing comes on the heals of NiTiâ€™s marketing efforts of its new flagship product, the ColonRing, which is used in the colon.
The ColonRing is a new technology that has just been approved in the United States and it employs Nitinol leaf springs, which is placed in the colon and then stretch to be put in place open up the colon and then close back up to heal the colon and return the colon tissue thickness back to a healthy thickness.
Furthermore, there have been human clinical trials in which the ColonRing and BioDynamix Anastomosis has shown great potential to provide good anastomosis and reduce complications. Furthermore, after trial patients had colonoscopies done after six months after the experimental surgery have shown stellar healing of the colon and seamless anastomosis. In animal trials, the ColonRing has shown a zero percentage of rupturing of the colon where the surgery took place.
Proceeds from this funding will go to aggressively market the new ColonRing BioDynamix technology and to further the advance of both ongoing and future research on the companyâ€™s BioDiynamix platform. Recently, NiTi Surgical Solutions launched the ColonRing technology in the United States and this new surgery has been very well received in the medical community due to its amazing healing capabilities. Furthermore, the ColonRing has shown excellent closure results and has already been performed in 2,200 patients.
According to the Managing Director of Israel Healthcare Ventures, Dr. Hadar Ron, MD; this round of funding is a result of NiTiâ€™s effective and successful business strategy. Furthermore, the company has had a rapidly growing market presence with its proprietary BioDynamix technology. Furthermore, because NiTi Surgical Solutions has developed revolutionary technology which has optimized the healing after gastrointestinal surgery. Dr. Ron further added that with the technology that NiTi has to offer and its commercializing of these biological healing technologies and developing these new devices are meeting an unmet surgical needs.
Some of the other products that NiTi Surgical Development has developed include surgical rings, clips, and appliers which have become the next generation of surgical devices available to speed up the post surgical healing.
Other news that NiTi Surgical Solutions has along with this round of funding is the appointment of Dr. Avi Molcho, MD; who is a venture partner of Forbion Capital Partners. Dr. Molcho went on to state that the team at Forbion Capital Partners truly believes that the technology which NiTi Surgical Solutions offers provides surgeons with devices that can optimize the healing process after the surgery has been performed.
Forbion Capital Partners is a leading vc firm that is completely dedicated to the healthcare industry and invests in companies that have solutions which can disrupt the markets within the healthcare industry. Forbion especially specialize in drug development and medical devices throughout Europe, the United States, and Canada. Some other companies in Forbionâ€™s portfolio include Acadia Pharmaceuticals, Accelerated Technologies, AM Pharma, Argenta Discoveries, Argos Therapeutics, and others.
For more information about NiTi Surgical Solutions, click here.