Vessi Medical has recently achieved a significant milestone by securing a $16.5 million Series A funding round, signifying a major accomplishment for the Israeli cryotherapy technology company. Specializing in providing a revolutionary cryotherapy solution for non-muscle-invasive bladder cancer (NMIBC), Vessi Medical’s innovative approach has garnered the attention of ALIVE-Israel HealthTech Fund, Agriline, and an undisclosed strategic investor, all of whom eagerly led the Series A investment round.
Founder and CEO of Vessi Medical, Eyal Kochavi, expressed his enthusiasm for the successful funding round, particularly amidst these challenging times. He also emphasized the participation of a global strategic investor as a strong vote of confidence in the company’s progress and potential. The financing, spearheaded by ALIVE, will play a crucial role in expanding Vessi’s research and development capabilities, conducting clinical studies in both Israel and the U.S., and obtaining regulatory clearance. With this support, Vessi Medical aims to introduce its groundbreaking treatment for NMIBC to patients and physicians, ultimately resulting in reduced side effects, improved patient outcomes, and lower healthcare costs.
Meanwhile, Merit Medicine, a company that utilizes AI technology to assist companies in self-funding their employees’ health plans, has also made significant strides in the digital health sector by closing a $2 million seed round led by LiveOak Ventures. Merit’s AI platform is designed to provide self-funded employers with valuable insights into predicting budgeting needs based on comprehensive datasets on patient journeys. This enables employers to proactively assess the potential for high-cost medical expenditures and specialty drug utilization for rare, chronic, and complex conditions, ultimately helping them better manage their financial risks associated with employee health.
Mike Marcantonio, who led the investment for Live Oak Ventures, expressed his admiration for Merit Medicine’s mission to empower employers in addressing the financial risk inherent in employee health through the use of AI technology. He particularly praised the team’s collective expertise in drug pricing, market access, and healthcare data analytics, recognizing the potential for Merit Medicine to significantly impact the industry.
The successful funding rounds for both Vessi Medical and Merit Medicine serve as a testament to the growing interest and investment in digital health, as well as the increasing potential of innovative technologies to transform the healthcare landscape. With millions of dollars infused into these companies, the future looks promising for the advancement of cutting-edge solutions that aim to improve patient care and revolutionize healthcare practices.
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