21 August 12 12:55–Ornim Inc. has raised $20 million in its second financing round from General Electric’s (NYSE: GE) healthymagination Fund and OrbiMed Advisors LLC through OrbiMed Israel Partners LP. Agate Medical Investments LP also participated in the financing round. Ornim and GE Healthcare will also examine a possible strategic relationship as part of a broader collaboration.
Ornim will use the proceeds for further development, clinical studies, international marketing, and commercialization of its CerOx monitor.
Ornim’s CerOx device is a non-invasive monitor, which uses near-infrared spectroscopy and ultrasound to measure blood flow and oxygen saturation in brain and muscle tissue. The device has US Food and Drug Administration (FDA) and EU CE Mark clearance, and the company plans to launch sales within 18 months.
Maintaining adequate blood flow and oxygenation are primary clinical goals for critical care patients. Currently, multiple, often invasive devices are needed for full blood flow measurement. There is a strong clinical for a non-invasive and cost-effective accurate, multi-parameter, continuous monitoring of blood flow and oxygenation.
Ornim CTO Dr. Michal Balberg and VP R&D Dr. Revital Shechter founded the company in 2004. It has raised $30 million to date and the company is based in Lod…Read More>>