Cardiosonic, Inc., a Tel Aviv, Israel-based private company developing innovative and proprietary technology in the field of Renal Denervation for the treatment of Hypertension, has closed on the first $6.1m of a planned $16.1m series B financing.
The round was led by a new strategic investor and joined by existing investor Shmuel Almagor. Michael Berman, an industry executive, has invested in the company and joined the board of directors as its Chairman.
Established in late 2009 and led by the inventor of its technology Ariel Sverdlik, CTO, and Mr. Benny Dilmoney, CEO, Cardiosonic has developed a high intensity, non-focused therapeutic ultrasound catheter and control system for remote tissue ablation for the treatment of hypertension by Renal Denervation (RDN). The company has tested the TIVUSTM system in extensive bench and animal studies and recently initiated a pilot human clinical trial.
The company will use the funding for extensive clinical trial and next generation product development plans.
Cardiosonic currently employs 17 professionals.