VALFIX Medical Inc. announces today that it has secured its fourth grant from the Israel Innovation Authority. This is the fourth consecutive year that VALFIX Medical is receiving an R&D grant from the Israel Innovation Authority and is the largest amount the company has ever been granted.
This grant is complementary to the company’s current Series A investment round.
“This grant is a part of our efforts to raise funds for our current series A investment round and secures a significant capital of this round,” states Eli Bar, VALFIX Medical CEO. “We know that receiving this grant for the fourth consecutive time sets us apart and validates our ongoing success and accomplishments in our development. We look forward to closing this round and continuing to advance our technology.”
This Series A investment round will fund team expansion, production scale up, V&V testing, and and first in human clinical study.
VALFIX Medical has received a total of more than 9 million NIS (2.6 million USD) in grants from the Israel Innovation Authority since 2017. Approval for grants from the Israel Innovation Authority requires due diligence and an extensive review of the company’s ongoing achievements, progression and execution, assets, and plans.