Israeli company working on bioelectronic implant to treat degenerative disc disease (DDD) Dissquare Technologies The company announced it has secured $11 million in Series A funding, after raising $5 million through a simple agreement for future equity. The Series A funding round was led by BOLD Capital Partners, Supernova Invest, and Sanara Capital, with participation from multiple U.S. hospital networks, leading orthopedic surgeons, veteran medtech investors, and existing investors.
“SAFE has allowed us to complete the development of the Discure System, successfully complete our comprehensive clinical program, and add studies in large animals and human cadaveric discs, paving the way for this successful Series A round,” said Yuval Mandelbaum, CEO of Discure Technologies. “This latest investment will accelerate our growth, allowing us to hire key employees and fully fund our first human clinical study in Canada and Italy. The investment validates the company’s novel, minimally invasive approach to reversing disc degeneration, shifting the paradigm from symptom management to treating the problem through disc regeneration.”
“We focus on companies that use cutting-edge technology to solve problems that impact people’s lives,” said Neil Bhadkamkar of BOLD Capital Partners in California. “Degenerative disc disease and the back pain that comes with it are a natural consequence of aging. It’s bad for the person suffering from it and bad for the economy in terms of lost work days. Discure is the first company we’ve seen to take an approach that has the potential to not only relieve pain but also reverse the underlying disc damage that’s causing the pain. Most importantly, we’ve been impressed by the expertise, focus and dedication of the Discure team and are honored to support them on this journey.”
“Descure is the only medical device company that has demonstrated a clear focus on addressing the underlying cause of DDD. We firmly believe that the technology’s ability to treat patients at an earlier stage, thus avoiding the need for invasive surgical procedures, will have a tangible impact. We are pleased to join existing shareholders in supporting this excellent company and team,” added Pascal André Chenal, Chief Investment Officer at Supernova Invest France.
This article was published in Globes, Israeli Business News – en.globes.co.il – on September 11, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
Comments are closed, but trackbacks and pingbacks are open.