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EnzySurge, Maker of DermaStream(R) Expanded its Recent Private Capital Round to $4.1 Million



1/11/2010 9:07:44 AM

RICHMOND, Virginia and ROSH HA'AYIN, Israel, January 11 /PRNewswire/ -- EnzySurge Ltd. (EnzySurge), maker of the DermaStream(R) product line and a provider of innovative solutions for advanced chronic wound management, announced that it successfully expanded its latest $2.5 million round of funding to conclude a total of $4.1 million at a company valuation of $21 million.

To date, EnzySurge has raised a total $11 million in several private equity rounds led by Eli Gilboa, CPA of Gilboa & Licht, who serves as the company's active Chairman. Proceeds will be used to accelerate and broaden EnzySurge's sales and marketing efforts in the US and the EU during 2010. The addressable market for the DermaStream product line, global chronic wound care market, is estimated at close to $4.0 billion annually.

EnzySurge recently received clearance from FDA to market SilverStream, its unique ionic silver wound management solution for professional use. FDA also cleared DermaSept, an Over-the-Counter version of SilverStream for management of burns, cuts and abrasions.

A single patient use disposable system, the DermaStream product line allows for the continuous streaming of fresh therapeutic solutions, such as the SilverStream solution, enzymatic debridement solutions and cleansing solutions, over the wound bed. The treatment provides constant removal of foreign material, exudate, micro-organisms and debris while creating negative pressure over the wound.

"I'm very excited with this successful private equity round of Funding," says Amir Shiner, Chief Executive Officer. "Following the recent FDA clearance of the SilverStream and DermaSept wound management solutions, this financing allows us to capitalize on the new market opportunities that have been opened for us and broaden our go-to-market efforts in the US and Europe EU during 2010."

According to Mr. Shiner, the company operates its marketing and sales activities from its US office in Richmond, VA and has been collaborating with the Virginia Biotech Commercialization Center (VBCC) since 2008. "Following this recent raise, EnzySurge will enhance its clinical base of evidence in the near future, to support our US and EU sales and marketing efforts," says Shiner.

About EnzySurge Ltd.

EnzySurge Ltd. is a developer and provider of innovative solutions for the treatment and management of chronic wounds. EnzySurge's DermaStream(R) platform offers a new and unique wound treatment modality by continuously streaming a fresh supply of advanced therapeutic solutions to a controlled wound environment. DermaStream is designed to deliver effective, affordable and easy-to-use wound treatment throughout all phases of chronic wound treatment from debridement, through regeneration to wound closure. The EnzySurge product line is intended for use in hospitals, clinics and for home care.

CONTACT: Contact Details : Amir Shiner, CEO, Mobile : +972-54-3030294; Eli
Gilboa, CHAIRMAN (Private Placement Manager), Mobile : +972-54-4570011


Read at BioSpace.com


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