CLEVELAND – Bridge Investment Fund LP, with offices in Cleveland and Tel Aviv, announced it is participating in a $3.5 million series B financing round in Arbel Medical Ltd. The investment round was led by Giza Venture Capital and joined by Ofer Hi-Tech, two of Israel’s leading venture capital firms.
Arbel Medical is an Israeli medical device company that develops innovative, minimally invasive cryotherapy products focused on the women’s health market, with an initial application for benign breast tumors. Arbel Medical’s first product version was cleared by the FDA for marketing in the US in 2007.
“We are thrilled to have Bridge Investment Fund join this investment round. Bridge, and its Cleveland partners – BioEnterprise, the Cleveland Clinic and University Hospitals – will provide the critical clinical and market entry expertise as Arbel markets its cryoablation technology to patients in the United States,” said Arbel Medical’s CEO Didier Toubia.
Bridge Investment Fund’s Managing Partner Michael Goldberg called Arbel Medical a company with excellent synergies with the medical institutions in Cleveland.
?The Cleveland Clinic and University Hospitals are world leaders in the areas of cancer treatment and research,? he said. ?We look forward to working with Arbel Medical to develop relationships with these institutions and others and as they introduce their products to the American market.”
For more information, click on BridgeFundLLC.Com
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