Biosurgery device company LifeBond has lured $20 million in a Series C round with investors Giza Capital and Aurum Ventures, with Johnson & Johnson Development Corp. participating in the round as well. Other investors in the Israel-based company include Pitango Venture Capital, and the Sitelman Group.
LifeBond Completes Third Financing Round in Excess of $20M
Caesarea, Israel, August 4, 2011— LifeBond, a biosurgery device company, announced today that it has completed its C financing round in excess of $20M, led by Giza Venture Capital and Morris Kahn’s Aurum Ventures, with Johnson & Johnson Development Corporation joining the financing round. Existing investors Pitango Venture Capital, Mr. Robert Taub, founder and former CEO of Omrix Biopharmaceuticals, Leon Recanati’s GlenRock Israel, and The Zitelman Group, also participated in this round.
LifeBond develops surgical sealants, glues and hemostats intended for preventing leakage and bleeding. The company plans to use the financing announced today to complete the pre-clinical and clinical phases of the company’s flagship product, LifeSealGI™, a sealant indicated for reinforcement of gastro-intestinal anastomoses. Post-surgical leakage from anastomoses is currently a significant risk factor that can result in life threatening complications and costly re-operations. In certain surgical procedures the risk of leakage is up to 20% of overall procedures.
LifeBond anticipates that LifeSealGI™ will reach the market within the next couple of years, pending regulatory approval. In addition, the company will continue to develop its severe bleeding control product, LifePatch™ and a hernia mesh fixation solution which are based on the same technology platform.
LifeBond CEO Mr. Ishay Attar said: ”We greatly value the support of our investors, who represent the premier life science funds in Israel and Europe. Surgical teams are actively seeking innovative wound closure products with improved performance and ease-of-use to seal surgical staple-lines and stop severe bleeding. We are looking forward to using the proceeds provided by this round to bring our first products to market as early as possible. Once approved, our products will become essential parts of the surgical toolbox and significantly improve surgical care.”
LifeBond is developing a line of biosurgical products for prevention of surgical leakage and bleeding. The company was founded in 2007 by LifeBond CEO Ishay Attar, LifeBond’s COO Mr. Orahn Preiss-Bloom and Mr. Nir Mashkif. The company’s headquarters is located in Caesarea Industrial Park.