The company’s product for the treatment of chronic wounds has been approved for marketing in Europe.
Sources inform ''Globes'' that Polyheal Ltd., a developer of products for the treatment of chronic wounds, has raised $1 million from existing investors at a value of $7 million. According to IVC Online the company’s investors are Challenge Fund - Etgar, Clal Biotechnology Industries Ltd., Technorov Holdings (1993) Ltd., Koonras Technologies Ltd., Arrow Ventures, Menahem Oron, and the Chief Scientist. Polyheal has raised $10 million to date.
The market for treatments for chronic wounds is one of the largest and more developed in the medical field. At present no solution exists that guarantees healing, although the partial solutions currently available such as that of EnzySurge, reported by “Globes” yesterday, generate sales of some $7 billion annually. Polyheal’s product is an innovative combination of medical device and drug. It consists of a solution containing synthetic microspheres that are applied topically, which, the company claims, triggers the patient's own cells to regenerate the deteriorated tissue of chronic wounds.
Published by Globes [online], Israel business news - www.globes.co.il - on January 1, 2007
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