insights

by  Batya Feldman

Medical device company Paieon Medical is setting out to raise $10 million, in order to gear up for penetrating the US market. The company intends to make an initial public offering on the Tel Aviv Stock Exchange, or alternatively to raise the money from private investors. Paieon was founded in 2000 as a spin off from Vectop, which was acquired by Rada Electronic Industries Ltd. in 2005. The company is developing medical imaging devices for invasive cardiology, based on technology that was developed in the military and the defense industry. The company’s founder and CEO is Omer Barlev, an experienced entrepreneur in imaging and electro-optics, a former commander of Sayeret Matkal (the General Staff Reconnaissance Unit), and the son of the IDF’s eighth chief of staff, Haim Barlev. http://www.globes.co.il/serveen/globes/docview.asp?did=1000588062&fid=1725

by Shiri Habib Valdhorn

Medical device start-up superDimension has raised $24.8 million, to reach a total of over $100 million raised since its establishment 15 years ago. According to IVC, the company has raised $109.4 million, including the current round. The company has developed minimally-invasive devices that enable the diagnosis and potentially the treatment of distal lung disease. A majority of the current funding, $15 million, is from a credit line from Oxford Finance, a US financial institution that specializes in life sciences funding. The company also raised $9.8 million from existing investors, which include Medica , Oxford Bioscience Parters, OrbiMed Advisors LLC, and Pitango Venture Capital. superDimension’s technology was originally developed for the toy industry – navigation for toy planes – but subsequently the firm decided to focus on the medical device market. http://www.globes.co.il/serveen/globes/docview.asp?did=1000587915&fid=1725