The cash is slated for the completion of clinical trials and commercialization, the Misgav, Israel-based company said.
“We believe that Fidmi’s enteral feeding tube will make a real difference to patients and caregivers. The investment by B. Braun affirms their confidence in the Company and its achievements; we’re excited to have begun human trials and soon bring our product to a market eagerly awaiting better solutions,” Fidmi CEO Shahar Millis said in prepared remarks.
“Investing in Fidmi Medical is an exciting opportunity for B. Braun to contribute in easing patients’ and medical specialists’ challenges in enteral feeding, thereby not only significantly increasing patient’s comfort but also making related clinical processes safer and much more efficient. Our engagement in Fidmi, a portfolio company of Trendlines, further reinforces the successful cooperation between Trendlines and B. Braun,” added Braun management board member Meinrad Lugan.
“Fidmi Medical is a great example of a company that fulfills our mission of creating and developing companies to improve the human condition,” Todd Dollinger, CEO of Fidmi shareholder Trendlines Group, said in a press release. “Their product truly makes a huge difference to millions of people who live with the day-to-day challenges of feeding tubes.”
“The Fidmi low-profile PEG device represents a major breakthrough for long-term enteral feeding. B. Braun’s investment in the Company validates what we believe and we look forward to bringing this exciting new product line to market,” Fidmi chairman Lloyd Fishman said.