KFAR SABA, ISRAEL – Sep 10, 2015 – Colospan Ltd., a company developing revolutionary solutions for colorectal surgery, announced that it completed the 2nd round of funding, totaling $2M, from VI Ventures and the existing investors.
VI Ventures, who now joins the existing investors, is a boutique venture capital firm focused on TMT and MedTech companies in China, U.S. and Israel and early stage cross border technology companies. It helps portfolio companies enter massive and fast-growing markets of China and Asia, and assists Chinese companies in expansion overseas. As a boutique firm, VI Ventures provides seed, venture, and growth-stage funding.
The existing investors, Anatomy Fund (part of Clal Biotechnology Industries – the largest life sciences holding company in Israel) and Docor, a subsidiary of the Van Leer Group Foundation, also participated in this 2nd round of investments.
Colospan’s CG-100 product is an innovative internal bypass device designed to improve the clinical outcomes of colorectal surgery. It provides a superior, effective and safe alternative for stoma pouches which are prone to complications, entail health risks and seriously impact the patient’s wellbeing. As an internal device, CG-100 does not require the rigorous care and limitations imposed by the stoma pouch. It also does not require a separate operation for removal, and can be easily extracted at any time by the physician.
“This second round of funding will allow us to complete the clinical trials, which have been running successfully, and expand our team in order to accelerate our go-to-market pathway,” said Boaz Assaf, CEO, Colospan. “All our investors are well-established entities in the biomed sphere, and we are proud to have their recognition, attesting to the value in our technology.”
About Colospan
ColospanLtd. is a clinical stage medical device company active since December 2010. ColospanLtd focuses on developing novel proprietary technology for colorectal surgery. The company is dedicated to meeting the first and foremost challenge in colorectal surgery by addressing the profound clinical and economic pains associated with anastomotic leaks. ColospanLtd focuses on developing a safe, effective alternative for the ostomy pouch, to improve medical procedures, reduce health risks and upgrade patients’ wellbeing.
Bringing together clinical, technical and marketing expertise since its inception, Colospan’s competitive advantage stems from the synergy between these domains. Its team consists of seasoned professionals in marketing, sales and development of surgical devices colorectal surgery. It also boasts a distinguished scientific advisory team comprising KOL physicians from Europe and the United States specializing in the colorectal surgery