Misgav Companies Raise $19 Million in 2006
According to Steve Rhodes, CEO of the Misgav Technology Center (MTC), 2006 will set a new record for capital mobilization by the MTC companies. And, he adds, “We are currently in the advanced stages of raising $5 million from private investors, with the intention of fully privatizing the Center during 2007.”
The MTC companies registered a record level of capital infusions in 2006, according to year-end data released by CEO Steve Rhodes. He added that MTC is currently in the advanced stages of raising $5 million from private investors, with the intention of fully privatizing the Center during 2007.
The Misgav Technology Center was founded in 1992. Since the start of 2005, when it was partially privatized through an investment of some $2 million by the Trendlines Group, the Center has been expanding rapidly. The inclusion of Trendlines, which specializes in developing marketing strategies for the international market, spurred changes in the focus and composition of the companies located in the Center.
During the past year, nine current and past MTC companies raised a total of $19 million. The list is headed by Dune Medical Ltd., which got its start at MTC and completed a $12.5 million Series B investment, led by Apax Partners.
Six other companies also obtained funding:
- EnzySurge, another MTC “alumnus,” which develops innovative products for the management of chronic wounds (diabetes and pressure sores)
- Flexicath, which is developing a prolonged-use (up to 15 days) IV catheter
- Genova develops environmentally friendly methods for generating electricity from biomass
- ETView, developers of a tracheoscopic ventilation tube with an embedded video camera
- Immunovative Therapies, which is developing a biological drug to fight cancer
- PBC Lasers, also an MTC graduate company, develops innovative laser diodes
Four new companies joined MTC during 2006.
- Pro IV Medical is developing a "smart" valve controlled by a handheld computer that is intended to minimize human error in the administration of blood transfusions and IV infusions.
- HeadWay is working on an innovative device for treating headaches (migraine, cluster, tension) and chronic head and neck pain.
- ID-U Biometrics specializes in the development of advanced biometric devices for verifying user identity.
- Virtual Ports focuses on developing advanced tools for use in laparoscopic surgical procedures.
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