Lydus Medical Announces $2.7M Seed Round Funding

What Kind of Equipment is Used to Analyze DNA?

Below are some of a few basic processes followed throughout DNA testing. The general procedure entails:  • Isolating DNA from a sample containing the needed...

mJOULE Launches in the United Kingdom Reports Sciton

"Sciton is dedicated to worldwide support and growth. We continue to demonstrate our commitment to developing high quality devices and marketing efforts for our physician and medspa partners worldwide." says Lacee J. Naik, Vice President of Marketing and Public Relations.

FDA Issues Draft Guidance on Remanufacturing and Discussion Paper Seeking Feedback on Cybersecurity Servicing of Medical Devices

With this in mind, the FDA is issuing today's draft guidance to help clarify whether activities performed on medical devices are likely remanufacturing as well as a discussion paper on cybersecurity servicing of devices.

Lydus Medical, a portfolio company of Sanara Ventures – a JV of Teva and Philips and an anastomosis technology provider, today announced $2.7 million in a Pre-A funding, led by a leading US-based strategic player with the participation of Sanara Ventures and existing shareholders.

The funding will support the company’s ability to accelerate FDA clearance while scaling product development and prepare for market entry.

Lydus takes an innovative approach to surgical anastomosis, the connection of ultra-small blood and lymph vessels to one another. “Anastomosis is one of the most complicated steps of surgery, and the key to success of many procedures, and it is still performed manually, making it time and labor intense, requiring high surgeon dexterity and a very unique skill set very few surgeons worldwide possess. This reality often results in poor clinical outcomes,” said Jessica Weiss, company’s CEO. “Lydus technology delivers standardized, accurate anastomosis, significantly improving clinical results, shortening operation time and enabling successful microsurgery procedures even when a rare, highly skilled microsurgeon isn’t available.”

Lydus developed, the Vesseal, a unique surgical device that enables precise, symmetrical and rapid connection of blood and lymph vessels of tiny diameters, ranging from 4.0 to 0.5mm, for complicated procedures, from breast reconstruction and lymphedema to bypass surgery and vascular access for hemodialysis. Lydus pipeline includes a diverse portfolio of products, all based on a patented invention.

“Lydus Medical, brings great innovation to the complex unmet need of surgical suturing, which includes more than 7 million surgeries a year across a variety of indications, reflecting a huge number of potential users of Lydus device,” said Assaf Barnea, Sanara Ventures, CEO and the Chairman of the company.

The funding round was led by the strategic player, together with additional investors Mor Research, Technion and Leon Recanati’s private equity investment company, Glenrock, has joined this round as well as additional investors.

Lydus Medical was founded in 2017 by Prof. Ad-El, Head of Plastic Surgery Dep, Dr. Mansour, Plastic surgery Dep. both at Belinson Hospital in Israel and Mr. Daas, engineer and serial inventor, responsible for hundreds of patents and Sanara Ventures, an investment platform which focuses on early-stage life science companies.

spot_img

DON'T MISS

Hyperfine Adds Medtech Leader and Visionary Scott Huennekens as Executive Chairman

Mr. Huennekens’ public boards include Chairman of Acutus Medical (IPO August 2020); Chairman of Envista (IPO September 2019); and board member of Nuvasive. He also serves as a board member and past Chairman of the Medical Device Manufacturer’s Association (MDMA).

One Drop Reports Carrie Siragusa, CPA Appointed VP of Commercial Strategy, Biosensor

Formerly Head of Innovation and Diabetes Portfolio at Sanofi, Siragusa will be part of a team bringing a multi-analyte dermal sensor (biosensor) with continuous health sensing capabilities to market with a mission to provide broader access to continuous glucose monitoring.

Barbara Moorhouse Appointed as Medica Non-Executive Director

Barbara has extensive business and management experience in the private, public, and regulated sectors.

Subscribe to Medical Device News Magazine here.

Related Articles

Join our list

Subscribe to our mailing list and receive an end-of-week recap news and updates delivered right to your email inbox.