EnzySurge, Maker of DermaStream(TM), Completes Funding Round of US$4 Million Proceeds Will be Used to Accelerate Market Entry of its Wound Care Products
Published: Jun 03, 2008
RICHMOND, Virginia and ROSH HA'AYIN, Israel, June 2 /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 $4 million. The round was extended from $2 million, as was announced on January 2008, to $4 million and was led by Eli Gilboa from Gilboa&Licht, who is the company's chairman. To date, the company has raised a total US$7.3 million. With this additional capital, the company will be positioned to execute on its plan to commercialize its products, for market launch in early 2009. The addressable market for DermaStream(TM) advanced wound care products is estimated by industry analysts to be US$6 billion.
EnzySurge's DermaStream(TM) product line is based on its proprietary Continuous Streaming Therapy (CST(TM)) technology. The comprehensive system continuously streams a fresh supply of active solutions to a controlled wound environment. EnzySurge has developed a series of bio-active therapeutic solutions to facilitate safe and effective healing of chronic wounds through all phases, from debridement, through regeneration to closure. The DermaStream family of products is designed to treat all forms of chronic wounds including diabetic ulcers, venous ulcers and pressure ulcers. DermaStream touch-free treatments result in faster, more effective and painless wound healing in the hospital, clinics and at home.
EnzySurge is currently completing the 2nd phase of a multi-centered, double blind clinical trial focused on chronic leg ulcers (venous ulcers). The intermediate results of the trial indicate a significant improvement and acceleration in treatment.
"I am very excited about the results of our most recent clinical trials and the feedback we are receiving since initiating our marketing activities in the US," says Amir Shiner, CEO of EnzySurge. "This latest funding round is a great vote of confidence from our investors. The funds will enable us to carry out plans to complete the transition from an R&D focused organization to the marketing and business development phase of our company. We are focused on the final steps in commercialization of our products, completing the regulatory process and preparing for market launch in early 2009."
Shiner adds: "We recently opened a US headquarter office in Virginia which will manage the US operations, with focus on a disciplined market launch, increasing market penetration, and establishing strategic partnerships. We have also recently completed a branding process and have launched our new Web site http://www.dermastream.com. We are experiencing a growing interest from leading players in the wound care market."
EnzySurge Ltd. is a developer and provider of innovative solutions for the treatment and management of chronic wounds. EnzySurge's flagship DermaStream(TM) platform based on the proprietary Continuous Streaming Therapy (CST(TM)) offers a new and unique wound treatment modality by continuously streaming a fresh supply of advanced therapeutic solutions to a controlled wound environment. DermaStream(TM) 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. DermaStream(TM) is intended for use in hospitals, clinics and for home care.
EnzySurge is committed to the development and delivery of innovative solutions that improve the quality of life of chronic-wound patients by shortening healing time, preventing hospitalization and reducing treatment costs. For more information, please visit our web site http://www.dermastream.com.
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