Israeli MedTech startup Nurami Medical, which develops post-surgical soft-tissue healing solutions, announced a $6 million Series B funding round. The investment was led by Almeda Ventures, with participation from Leon Recanati's private equity investment company, GlenRock.
Targeting FDA and CE approval
Nurami Medical's technology is based on biodegradable, synthetic nanofibers with sealing properties for improved soft tissue healing. The company has set out to revolutionize the regenerative medicine industry by providing both patients and physicians an effective application-tailored patch or surgical sealant solution. According to the company, in addition to its initial product offering - ArtiFascia - it is also lining up future projects for tissue regeneration solutions, which Nurami notes are part of a $20 billion market.
Regarding the ongoing clinical trials, co-founder Dr. Amir Bahar, a multidisciplinary entrepreneur and Nurami's Clinical Director and Operations Manager said, "ArtiFascia's clinical trial is being carried out at a number of European medial centers. This is a controlled, blind study, and as of yet, no adverse reactions have been documented."
ArtiFascia is a patented, synthetic dural graft that protects the brain after neurosurgeries by boosting dura regeneration, while preventing cerebral-spinal fluid (CSF) leakage, to protect both the brain itself and central nervous system.
Nora Nseir Manassa, co-founder, co-CEO and CTO at Nurami adds, "Nurami is involved in ongoing efforts for the development of additional solutions for soft tissue repair and healing, for additional clinical indications, based on our technological platform which incorporates novel materials and unique manufacturing processes."
Nurami Medical was founded in 2014 by uber-talented co-CEO and CTO Nora Nseir Manassa, COO Dr. Amir Bahar, and NGT3VC, a venture capital fund supporting early-stage life science startups. Previously, the company had raised $5 million from a number of Angel investors and the Israel Innovation Authority. The company relayed that the funding will be set towards completing clinical trials on ArtiFascia, and attaining both FDA and CE clearance. The clinical trial will test ArtiFascia in 90 patients, of which 13 have already been implanted with the ArtiFascia graft.