Eximo Medical said today it closed a Series A funding round, bringing in $1.6 million to support its Cathi hybrid catheter.
The Cathi catheter operates by combining laser ablation with a blunt, bladed tip, the company said, and is intended for use in treating peripheral artery disease.
The round was led by Accelmed, with participation from the Alfred Mann Institute at the Technion, the Technion R&D Foundation and a private investor, Israel-based Eximo Medical said.
“We have been engaged in the development of our Cathi technology for several years and are excited to have reached the stage to take its main application – the treatment of PAD patients – through its FIH clinical trials later in the year. We have every faith in the relevance of our laser system and hybrid catheters which we believe have several advantages over existing solutions in the market,” Eximo chairperson Dr. Irit Yaniv said in a press release.
PAD results in nearly 66% of all limb amputations, with 122,000 PAD-related amputations every year in the U.S., Eximo said.
Eximo Medical said it has plans to develop and release solutions for lead extraction and at a later point, to develop catheters for interventional gastrointestinal procedures.