Stimatix GI, a Misgav, Israel-based medical device company focused on continence solutions, closed a $1m funding round with venture capital fund Pontifax.The company will use the funds to conduct first-in-man clinical trials for its AOS-C1000™ Colostomy Management System, which is designed to allow individuals to discretely manage their colostomy without the need to wear a traditional ostomy pouch.
The system is intended to improve quality of life and offer an elegant, non-surgical, and simple to use solution for round-the-clock continence control.
Commenting on the funding, CEO Mr. David Hanuka, said: “The results of the preclinical trials represent a breakthrough in stoma treatment, the first of its kind in more than five decades.
Now that the capital injection has been completed we intend to begin the clinical trials as soon as possible”, he added.
Founded in 2009, the company operates as part of the Misgav Venture Accelerator.
FinSMEs
07/03/2011