Cryotherapy Startup Arbel Medical in Second Round

Last month we reported on Core Dynamics, a company that develops technology to freeze human organs and increase their shelf life. Another Israeli startup, Arbel Medical, is developing office-friendly, next-generation , minimally invasive Cryo-therapy products for the treatment of breast tumors and other internal diseased tissue.

Founded in 2005, the company has previously raised $2.75 million in funding from Giza Venture Capital, Ofer Hi-Tech Ventures and TRD Instrum, and has now added an additional $450,000 from Bridge Investment Fund, which aims to set-up operations for Israeli life science companies in Cleveland, Ohio. Arbel is conducting trials in Cleveland and possibly opening offices there.

The company offers the following description of its flagship product IceSense:

“Cryotherapy is a fast-developing minimally-invasive procedure, in which a cryoprobe is used to ablate diseased tissue through the application of extreme cold.

IceSense™, Arbel’s breakthrough N2-based platform is adapted for use both in operating theaters and in freestanding clinics, offering the following key advantages over classical Joule-Thomson based products:

  • User friendliness (operation and maintenance) and reduced cost
  • Higher freezing capacity resulting in shorter treatment time
  • Easier control over the ablation process”

The company has future sights set on the growing area of women’s health, including using its IceSense technology in treating tumors from breast cancer, and also using it for aesthetic applications.

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Tveez, MediaBoost and AdYouNet Score $$$

Online advertising and marketing startups are thriving in Israel and raising large amounts from VCs in the process.  Here are three that have made headlines:

Tveez Marketing Intelligence is a point-of-purchase marketing company founded in 2004 that supplies consumer-oriented companies with proactive sales and marketing management technology, enabling them to increase sales and deliver superior customer service.  They’ve recently raised $15 million, according to Haaretz, in a round led by Giza and Benchmark Capital, and include Yair Goldfinger(one of the founders of Mirabilis, developer of ICQ, sold to AOL for $400 million) amongst their founders.  Their clients include McDonald’s, 7-Eleven, HSBC and Sheraton Hotels and they’ve recently signed a $10 million deal with Citibank.  Read all about their main product, TVeezMI.

 

MediaBoost has raised $1 million from Teuza – A Fairchild Technology Venture, according to Globes, adding to the $500,000 they invested in the company last year, as part of the latest round to raise a few million dollars in financing.  The online advertising startup was founded in 2005 by CEO Alon Matasand VP Business Development Uri Shtrichman to create technologies and products that automate and optimize decision-making for online media buying.  Their group of “scientists” use tools ranging from game theory to operations research algorithms to create software which aims to improve “bottom-line profits from online campaigns.”  In 2006 they launched their flagship product, Adbooster, which is tailored specifically for advertising in Google AdWords.

 

AdYouNet Technologies is a “stealth mode” online advertising company founded in 2007 that has raised NIS 3.5 million from its current investors Xenia Venture Capital Ltd.(TASE:XENA) and NetService Ventures, according to Globes.  The startup is developing a CRM advertising application over the web that enables one-to-one identification of targeted users to deliver a tailored advertisement campaign. 

Positive Results for BioLineRx Heart Attack Treatment

biline.jpgBioLineRx, an Israeli drug development company, has announced that the first heart attack patient has emerged unscathed from a Phase 1/2 clinical trial study of its BL-1040, a breakthrough approach to supporting damaged cardiac tissue. The trial is using up to 30 patients in several sites in Germany, Belgium and Israel and is designed to assess the safety and feasibility of the treatment which BioLineRx is hoping to have approved as a Class III Medical Device.

According to the press release, BL-1040, which was shown in pre-clinical trials performed on animals to improve survival rates, is “a resorbable liquid polymer that is administered via the coronary artery during standard catheterization and flows into the damaged heart muscle. The liquid polymerizes within the infarcted cardiac tissue and forms a protective “scaffold” that enhances the mechanical strength of the heart muscle during recovery and repair, thereby preventing pathological enlargement of the left ventricle after the MI. BL-1040 is excreted naturally from the body within six weeks after injection, leaving behind a stronger, more stable heart muscle.”

Morris C. Laster, MD, CEO of BioLineRx said that this “is an important milestone in the development of BL-1040, BioLineRx’s innovative product candidate, which is the first treatment that attempts to treat damaged cardiac tissue resulting from an acute MI and addresses a tremendous unmet medical need.”

Professor Jonathan Leor, co-inventor of BL-1040, added that it “could revolutionize the treatment of patients recovering from a massive heart attack” and that he believes further trials “will continue to provide more evidence for the success of our new approach to bring effective and safe treatment for patients with injured hearts.”

BioLineRx, whose BL-1020 treatment for Schizophrenia is about to begin Phase 2b clinical trials in U.S., Europe and Israel, was founded in 2003 by members of Israel’s life science community including Teva Pharmaceuticals Ltd. with help from Giza Venture Capital, Pitango Venture Capital, and Hadasit.

Check out the full press release for more info.