The company has developed biodegradable shields to protect healthy tissue during radiotherapy for cancer.
Xenia Venture Capital Ltd. (TASE:XENA) portfolio company BioProtect Ltd. has raised $1.65 million from three US investors and current shareholders. The company has developed biodegradable shields to protect healthy tissue during radiotherapy for cancer.
Bioprotect plans to raise $2 million altogether in the current financing round, at a company value of $9.5 million, after money.
Bioprotect's patent-protected biodegradable biological implants are introduced by minimally invasive procedures at the desired location guided by ultrasound, CT, MRI, fluoroscopy, laparoscopy. They can be left in place at the end of a surgical intervention. The company began clinical trials of its products a year ago. The trials indicate that the shields shorten treatments while allowing for higher radiation dosages without harming essential organs.
Published by Globes [online], Israel business news - www.globes-online.com - on June 12, 2008
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