SofWave Medical secured an $8.4 million financing round, led by co-founder and chairman Shimon Eckhouse and XT Hi-Tech, as the Israeli-based company develops non-invasive fractional ultrasound technology for skin tightening.
“This financing round of SofWave Medical will enable us to execute aggressively on our plan to build and position the company as a leader in this great market,” Eckhouse said in a release.
The company’s fractional ultrasound beam treatment targets layers within the skin to cause controlled thermal injury, resulting in skin tightening, wrinkle reduction and better-looking skin.
SofWave, along with leading U.S. dermatologists, conducted a 60-person clinical study that showed “excellent clinical results with no down time to patients and an exceptional safety profile.” The study was used for a 510(k) FDA submission, while the company secured a CE Mark for commercialization outside the U.S.
The company also announced the appointment of Louis Scafuri to the CEO position. Scafuri previously held the CEO position at Syneron Candela, where he led the merger of the two companies.
“I am thrilled to join this new exciting company,” Scafuri said in prepared remarks. “We have an exceptional opportunity to bring to market a whole new modality of simple facial and sub-mental treatments driven by smart and sophisticated science. Working again with Dr Shimon Eckhouse as well as with a whole team of exceptionally talented industry veterans will inevitably help build and position SofWave Medical as the recognized innovator in the aesthetic device market.”
“We are very pleased to have Lou as the leader of this exciting company,” Eckhouse added. “His experience and expertise will no doubt help build SofWave Medical’s business in the global, fast-growing aesthetic medical market. I am very excited to once again work with Lou and to share the vision and enthusiasm we both have for the aesthetic device market.”
