Cardiosonic Closed $6.1 Million Investment round
7 December, 2012
Cardiosonic has developed a high intensity, non-focused therapeutic Ultrasound Catheter and control system for remote tissue ablation
The inventor of an Ultrasoud Catheter, Cardiosonic, Inc. from Tel-Aviv, has closed on the first $6.1 million of a planned $16.1 million series B financing. The round was led by a new strategic investor and joined by existing investor Shmuel Almagor. In addition,Michael Berman, an industry executive, has invested in the company and joined the board of directors as its Chairman.
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 its TIVUSTM system in extensive bench and animal studies. Recently IT initiated a pilot human clinical trial.
The TIVUSTM system enables quick, controlled RDN without damaging the arterial endothelium. Dr. Krishna Rocha-Singh, an advisor to the company and a leader in the rapidly growing field of RDN, from the Prairie Heart Institute at the St. John’s Hospital in Springfield, IL, said that “The TIVUSTM system has great potential to improve the process and outcomes of RDN procedures”.
Cardiosonic is a privately held company established in 2009 by Shmuel Almagor to develop and commercialize breakthrough ultrasound technology invented by Ariel Sverdlik when he was a doctorate student at Tel Aviv University. Today he serves as the Company Chief Technology Officer. The company employs 17 professionals.
Cardiosonic CEO, Benny Dilmoney, said that “The addition of a new strategic investor combined with the continuing commitment of our present investors is a testament to the significant progress we have made in the development of our TIVUSTM system.”