Remon Medical Technologies Completes Series C Financing, Raising $26 Million
27 Décembre 2004 - 2:00PM
PR Newswire (US)
Remon Medical Technologies Completes Series C Financing, Raising
$26 Million WALTHAM, Mass. and CAESAREA, Israel, Dec. 27
/PRNewswire/ -- Remon Medical Technologies, Inc., a privately held
medical device company, today announced that it has completed the
final closing of an oversubscribed Series C financing raising a
total of $26 million. New investors participating in this final
close of the round include Triathlon Medical Ventures, Medica
Venture Partners and Guidant Corporation (NYSE:GDT). Remon's other
major investors include Polaris Venture Partners, Concord Ventures,
Lilly Ventures, KBL Healthcare Ventures and Ofer Hi-Tech. Upon this
close of the financing, Carrie Bates, Managing Director of
Triathlon Medical Ventures and Batsheva Elran, Managing Partner of
Medica Venture Partners, have joined the Remon board of directors.
Remon plans to use the funds to expand its presence in the U.S. and
continue the development of its technologies and product portfolio,
through its Israeli R&D subsidiary. "We are delighted by the
outstanding group of investors we have been able to attract to
Remon, and look forward to working together to progress Remon's
various development programs", said Hezi Himelfarb, Chief Executive
Officer of Remon. "The capital raised in this round will allow us
to advance the integration of our innovative intra-body
communication technology inside therapeutic products." Remon
Medical's technology is integrated into minute implants, requiring
no antenna, wires, or connecting leads -- allowing a tiny device
implanted deep inside the body to communicate wirelessly with other
implanted devices and external systems. The company intends to
commercialize its products through internal efforts and strategic
collaborations with world-leading partners. The company's
intra-body communication -- a novel proprietary technology --
enables communication between its implantable sensing or actuating
platforms and other active implantable devices in a totally
wireless fashion. Remon Medical continues its clinical trial of the
Remon Impressure(TM), a device that offers on-demand, non-invasive
means to monitor intra-aneurysm pressures following endo-vascular
graft procedures. The device was implanted and is being used
successfully in 21 patients in the Mount Sinai Hospital (New York).
Remon Medical also develops the Remon HeartLook(TM), a device for
measurement of pulmonary artery pressure -- the most important
hemodynamic indicator in heart failure. A one-time, minimally
invasive catheter-based procedure will provide unlimited,
non-invasive home-based monitoring of the CHF patient's hemodynamic
status. About Remon Remon Medical Technologies, Inc. develops and
commercializes smart, miniature implants which enable physicians to
assess and treat a variety of medical conditions in a non-invasive
manner. The Company's enabling technology utilizes wireless
communications to exchange energy and data with miniature devices
placed deep inside the body, in order to either monitor a variety
of physiological parameters or to stimulate tissues and organs or
to activate other devices, creating therapeutic responses. Remon's
unique platform has broad applications for patient management,
post-operative monitoring, nerve and tissue stimulation, and local
drug delivery/release. Remon is backed by leading global investors,
including Concord Ventures (http://www.concordventures.com/),
Polaris Venture Partners (http://www.polarisventures.com/), Lilly
Ventures (http://www.lillyventures.com/), KBL Healthcare Ventures
(http://www.kblhealthcare.com/), Ofer Hi-Tech Group
(http://www.oferhitech.com/), Triathlon Medical Ventures
(http://www.tmvp.com/), Medica Venture Partners
(http://www.medicavp.com/) and Guidant Corporation
(http://www.guidant.com/). For more information, visit
http://www.remonmedical.com/. CONTACT: Hezi Himelfarb CEO Remon
Medical Technologies, Inc. U.S. Mobile: +1-201-658-6383 OUS Mobile:
+ 972-52-249-7044 Email: Web sites: http://www.concordventures.com
http://www.polarisventures.com http://www.lillyventures.com
http://www.kblhealthcare.com http://www.oferhitech.com
http://www.tmvp.com http://www.medicavp.com http://www.guidant.com
http://www.remonmedical.com DATASOURCE: Remon Medical Technologies,
Inc. CONTACT: Hezi Himelfarb, CEO of Remon Medical Technologies,
Inc., U.S. Mobile, +1-201-658-6383, or OUS Mobile, +
972-52-249-7044, or
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