Wednesday, October 21, 2015

Chinese Group Haisco Pharmaceutical To Invest $10 million in Israeli Company Endospan

Xizang Haisco Pharmaceutical Group Co., China second largest medical corporation invests $ 10 million in Endospan, an Israeli company that develops medical devices.

Post money valuation to the company is $100 million.

Existing shareholders in the company also invested in the round, including Accelmed (Mori Arkin's fund), Dr. Uri Geiger, Sequoia Capital Israel and VitaLife. To date the company raised $25 million, mainly from Accelmed and Sequoia.

Haisco Pharmaceuticals will get exclusive rights for distributing the products of Endospan in China.

Endospan transforms the treatment of aneurysms, dissections and other aortic lesions from high-risk, open- surgery to faster, simpler and less invasive procedures and from conventional, double-sided endovascular procedures, to lower invasiveness, percutaneous, single sided interventions.

Endospan was founded in 2009, based in Herzlyia, Israel and has 30 full-time employees.

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