Discure Technologies, an Israeli bioelectronic implantable device for the treatment of degenerative disc disease (DDD), has announced that the company has secured $11 million in an oversubscribed Series A funding round, following a $5 million SAFE (Simple Agreement for Future Equity) raise. The Series A round was led by BOLD Capital Partners, Supernova Invest and Sanara Capital, along with multiple US hospital chains, leading orthopedic surgeons, veteran medtech industry investors and existing investors.
Yuval Mandelbaum, CEO of Discure Technologies, said: “SAFE allowed us to complete the development of the Discure System, as well as to successfully complete a comprehensive preclinical program, adding large animal and human cadaveric disc studies, setting the stage for this successful Series . This latest investment will accelerate our growth and allow us to make key hires and fully fund our first-in-human clinical study in Canada and Italy from a symptom management to disc rehabilitation paradigm.”
Neal Bhadkamkar of BOLD Capital Partners in California said, “We focus on companies that use cutting-edge technology to solve problems that affect people’s lives. DDD and the accompanying back pain are a natural consequence of aging. It’s bad for the sufferer and the economy in terms of lost work days. bad for Discure is the first company we’ve seen with an approach that has the potential to not only reduce pain, but also reverse the underlying disc damage that’s causing the pain.
“Discure is the only medical device company with a clear focus on addressing the root cause of DDD. We strongly believe that the technology’s ability to treat patients at an early stage, thereby avoiding the need for aggressive surgical procedures, will have a significant impact. We believe this We are delighted to join our existing shareholders in supporting an excellent company and team,” added Pascal-André Chenal, Investment Director of Supernova Invest.
Globes, Israel business news – en.globes.co.il – published on September 11, 2024.
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