YOKNEAM, Israel, July 17 /PRNewswire/ -- Arbel Medical, an Israeli start-up developing the next generation of medical equipment for removing tumors by freezing (cryotherapy), has completed raising $4.5 million of capital in its second round, led by the Giza Venture Capital fund.
The Docor International investment company, of the Van Leer group, has invested $1 million, joining the other Arbel investors who include Giza Venture Capital, Ofer High Tech, the Bridge Investment Fund from the USA, TRD and Fattal.
Dr Alon Dumanis, CEO of Docor, will be appointed as a member of the Board of Directors of Arbel Medical.
Arbel Medical works in the field of minimal-invasive treatments. The company is developing next generation medical devices for removing tumors by freezing (cryotherapy). Cryotherapy is currently considered as the most promising minimally invasive technique for removing tumors, a market that, according to MedMarket Diligence, is expected to grow at a rate of 30% a year in the coming decade. Arbel Medical brings promising news to women's health treatments, a market worth billions of dollars. Quick and effective treatment using Arbel's innovative device can even be carried out in clinics outside hospitals.
It should be noted that Arbel Medical was chosen as one of the three most promising start-ups in Israel in 2007 by the Export Institute, the Israel Life Sciences Institute (ILSI) and LSA.
Didier Toubia, Co-Founder of Arbel Medical, said that "the current round of capital raising provides the company important leverage to accelerate and expand its clinical trials overseas, establish itself in the American market, and launch its first product onto this market in 2009."
Elka Nir, a Partner in Giza and Chairperson of the Board of Directors
of Arbel Medical, said: "Arbel is developing an innovative solution that
meets a considerable need in the market and will provide a substitute for
many of the surgical operations c
|SOURCE Arbel Medical|
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