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Israeli biomedical startup Laminate Medical Technologies has raised $8 million in Series B financing. The firm has raised $13 million to date. Several European funds took part in the current round, as did the Chinese pharmaceutical giant Haisco. The company’s existing investors include private investors Nava and Yehuda Zisapel, Zohar Gilon, Eri Steimatzky, Henit Vitos, and Ari Raved.

Laminate was founded in 2012 by Tammy Gilon, who is the company’s CEO, and Dr. Eyal Orion. The company is developing a blood vessel support device to be implanted in patients suffering from kidney failure and in need of dialysis. The device, called VasQ, is already in use in hospitals in Europe and Israel, and is in the process of being approved by the US Food and Drug Administration.

“The technique for fistula surgery has not changed since it was first performed in 1966,” Gilon explained, as reported by Globes. “Given the high failure rate, a solution is needed that will prevent patients with kidney failure who are on dialysis from having to repeat the operation every few years, and in many cases even after a few months, which also affects their treatment. The current round will enable us to expand our activities in the European market, where we are already working successfully with leading hospitals in the UK, Switzerland, Italy and Germany, and at the same time complete clinical trials in the US and the FDA approval process. For this purpose, we are currently expanding our staff of experienced professionals in the field of medical devices, and opening a branch in the US.”

Read more: Globes

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February 7, 2017 at 09:50AM vía