Eximo Medical, a company specializing in medical devices manufacturing, has announced that it has successfully raised US$1.6 million via its Series A funding. The company’s funding round was led by Accelmed, an investment fund that focuses on medical device companies. Other notable participants in the funding endeavor were a private investor (whose name was not publicized in the company’s announcement) and Alfred Mann Institute at the Technion 9which works under the aegis of the Technion R&D Foundation.
One of the most innovative products that Eximo has developed is a hybrid catheter. This patented medical device, which carries the name brand Cathi™, is directly connected to a laser system. This pulsed laser system is programmed to operate at a 355 nanometer UV. The tip of the catheter fuses laser ablation abilities with a mechanical blunt blade. With this combination, a marked improvement in accuracy has been observed. This also helps achieve superior precision when being passed through a blocked vessel, irrespective of the vessel’s size or the type of lesion.
The new medical device is unique in that it carries the potential to help optimize the degree of performance and safety associated with vessel perforation. This new system’s performance as well as that of its catheters will be tested in several rounds of human studies slated to be conducted in Europe and Israel toward the last quarter of 2015. The funding raised recently will be used for these medical studies, said a press release issued by Eximo. Currently, Peripheral Artery Disease is a multi-billion dollar market that affects an estimated 8 million to 12 million Americans. In fact, PAD has been identified as a leading cause (66%) of all limb amputations – a procedure that continues to beset patients even today.