The money is being raised under the leadership of the Chinese Lunangtech and the existing investors Orbimed and GE * Oranim Medical also participated in a NASA experiment to monitor blood flow in the absence of gravity
Oranim Medical, which develops brain monitoring equipment, has completed a $20 million fundraising round led by the Chinese investment company Longtech. In the current fundraising round, which is the company's third in number, the existing investors, among them Orbimed and GE, also participated. The current recruitment was made after Oranim made significant moves in the global market. Today, Oranim's systems are installed in more than 30 of the most important hospitals in the US, including: Cleveland Clinic, San Francisco, Boston Houston and more
The entry of Longtech as an investor is an important strategic asset for the company and support for the development of commercialization of medical technologies in the Far East. In parallel with the process of establishing its commercial hold in the United States, Oranim is now increasing its global activities to China and Korea and is in the process of regulatory approval from the Chinese Food and Drug Administration for its flagship product called C-FLOW.
Oranim recently received important international recognition when the American space agency NASA invited the company to participate in a groundbreaking international experiment to monitor blood flow and oxygen levels in the brain under non-gravity space conditions. The experiment was conducted by the American Space Agency's Biotechnology Institute together with the German Space Agency at the Space Research Center in Cologne, Germany. The Israeli Oranim is the only company outside the United States that participated in the experiment.
Oranim's flagship device called C-FLOW is based on a unique technology, protected by patents, which combines near infrared light and an ultrasound signal and is intended for continuous, non-invasive and simultaneous monitoring of changes in blood flow in the bcjr tissue area of the brain. Without the device, doctors are forced to use indirect measures that are not specific to the brain or a dedicated, expensive and invasive device that usually provides only partial information. The C-FLOW is intended for use mainly in operating rooms, intensive care, recovery rooms and emergency rooms and in the future also in ambulances. The C-FLOW is the only non-invasive device in the world currently approved by the FDA, for monitoring, in a simultaneous and continuous way, changes in blood flow during cerebral monitoring. Orani also has an additional approval from the FDA for continuous monitoring of the level of oxygen saturation in the brain. Oranim Medical, which operates from Kfar Saba and Boston in the USA, currently employs about 40 professionals, among them: doctors, physicists and researchers.
Israel Schreiber, CEO of Oranim Medical, said: "We are very satisfied with the significant progress achieved in the company at all levels, and with the clinical results we achieved together with the doctors working with our system. We were able to concentrate effort and in a relatively short time to complete product development and installations in first-rate medical centers."
Israel added "Oranim also signed a first distribution agreement in China and began the regulatory approval processes. Receiving such approval within about a year will open up the Chinese target market and will be a basis for marketing the systems in the Far East as well.
We are proud that high-quality international bodies such as Longtech, Orbimed and GE place their trust in us. This is an important recognition of the company's potential to become a global leader. Cooperation with strategic investment bodies will allow Orani to enjoy quality support from the international team and may help the company planning its future commercial steps in the global arena. The investment will allow the company to promote the company's international marketing and to continue and accelerate additional development processes that will yield complementary products."
Israel Schreiber pointed out that today there is increasing recognition in the world of the need to specifically protect the brain during the performance of various medical procedures. Oranim's technology, which has already been approved by the FDA, is considered unique because it allows, among other things, real-time monitoring of changes in the blood supply to the brain. The technology will enable personalized treatment for the patient as well as earlier medical intervention, thus preventing complications for patients. The potential market facing the company is very large and the solutions that exist today are not satisfactory in light of the clinical results - brain damage, decreased cognitive function and more... of patients who stayed in intensive care for more than a few days.
