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CartiHeal gets $5mm in venture round plus $5mm in options; adds another $5mm
31 Oct 2013
In its second financing this year, three-year-old device firm CartiHeal Ltd. (hyaline cartilage regeneration) has raised $5mm from first-time backer Elron Electronic Industries Ltd. and Series A investors Accelmed and Access Medical Ventures. The funding will support ongoing development of its Agili-C cell-free arthroscopically-placed implant and for clinical trials of other product candidates. As part of the financing, CartiHeal has also received $5mm in options. The company brought in $5mm via a Series A round in February.
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