Ornim Medical, a Kfar-Saba, Israel-based biomedical technology company developing non-invasive patient monitoring solutions for cerebral and tissue blood flow with the innovative CerOx™ & c-FLOW™ devices, completed a $10m funding round.
The round, which represents the second phase of the previous fundraising round carried out by the company in 2012 (read here) was led by OrbiMed Israel, with participation by GE and Agate venture capital fund.
The company intends to use the funds to continue accelerating product development process while expanding its international marketing efforts.
Led by Israel Schreiber, CEO, Ornim Medical provides CerOx™ and c-Flow™, which are intended for use in operating rooms, neuro-critical care and intensive care units, recovery rooms, and emergency rooms, and in the future, ambulances and MediVac.
They are both based on its patented UTLight™ technology, which utilizes weak acoustic beams to identify light emerging from deep tissue layers.
The company currently employs 30 professionals, including doctors, physicists, bio-engineers and researchers.