The Or Akiva-based medical device company is developing the Nautilus device to treat aneurysms.
Japanese company Kanika announced its acquisition of 96.8% of the shares of the Israeli medical devices company INDUSTREAM MEDICAL LIMITED (ESM). Or Akiva-based ESM, which was founded in 2015 by CEO Danel Mayer and CTO Alon May, is developing the Nautilus device to treat aneurysms. No financial details about the deal were revealed.
Kanika says it will work alongside ESM Technology to jointly develop and manufacture new medical devices, especially for the treatment of cerebral blood vessels, and the Japanese company says it aims to achieve sales of more than $120 million from these devices by 2030.
EndoStream’s Nautilus device can treat aneurysms with wide openings in the brain’s blood vessels. The device has a special structure that can be used with an aneurysm embolization coil to block blood flow to the aneurysm, facilitating treatment that would otherwise be difficult with existing devices. The product received EU regulatory approval in November 2024, with plans for approval and launch in the United States in the spring of 2026 and in Japan in 2027.
Published by Globes, Israel Business News – en.globes.co.il – on January 9, 2025.
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