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EnzySurge, Maker of DermaStream(R) Secures US$2.5 Million in Private Capital

12/22/2009 9:06:42 AM

RICHMOND, Virginia and ROSH HA'AYIN, Israel, December 22 /PRNewswire/ -- EnzySurge Ltd. (EnzySurge), a provider of innovative solutions for advanced chronic wound management, announced today that it successfully completed its latest round of funding of US $2.5 million. The round was led by Eli Gilboa, CPA, of Gilboa & Licht, who serves as the company's active chairman at a company valuation of US$18.5 million. To date, the company has raised a total US$10 million. Proceeds will be used to accelerate EnzySurge's sales and marketing efforts in the US during the first half of 2010. The addressable market for the DermaStream product line, global chronic wound care market, is estimated at close to US$4.0 billion annually.

EnzySurge recently announced that it has received clearance from the U.S. Food and Drug Administration (FDA) to market its new SilverStream(TM) solution for prescription use. SilverStream is intended for use under the supervision of a healthcare professional for management and moisturizing of wounds such as stage I-IV pressure ulcers, stasis ulcers, diabetic foot ulcers, post-surgical wounds, first and second degree burns, cuts abrasions and minor skin irritations. The FDA also cleared the DermaSept, an Over-the-Counter version of the SilverStream product, which is intended for the management and moisturizing of minor cuts, minor burns, abrasions and irritated areas.

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 pleased with this additional round of funding, says Amir Shiner, Chief Executive Officer. This financing allows us to execute our go-to-market market plan in the US during 2010. We recently completed a multi-center clinical study on venous ulcer patients. The preliminary study results demonstrate safety and preliminary efficacy of the DermaStream product line on venous ulcer patients and will strengthen the DermaStream clinical base of evidence that supports our growing marketing and sales activities in the US."

According to Mr. Shiner, the company operates its US marketing and sales activities from its office in Richmond, VA. "EnzySurge has been exploring strategic partnerships with a number of global wound care player," adds Shiner. "Such partnership may allow us to capitalize on the remarkable opportunities that have been recently opened for us in our markets."

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

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