13.08.2008
BrainsGate raises $27.5m
Medical device company BrainsGate Ltd., a subsidiary of Elron Electronic Industries (Nasdaq: ELRN; TASE: ELRN), has closed its latest financing round, raising a total of $27.5 million. Johnson & Johnson Development Corporation (JJDC), the Johnson & Johnson venture capital arm, led the round, and was joined by Agate Medical Investments LP, which invested $5 million.
Most of BrainsGate's existing investors also joined the latest round, including Elron, which invested $6.6 million, and former Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) president and CEO Israel Makov. Elron now holds 23.3% of the company. BrainsGate's other shareholders are Pitango Venture Capital, Alice Ventures, Boston Scientific Corp. (NYSE: BSX), and Israel Infinity Venture Capital. The finance was raised at a company value of $50 million before money. BrainsGate is headquartered in Caesarea and employs 50 people.
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August 19, 2009
Nordic Stroke 2009
BrainsGate sponsors the 15th Nordic Congress on Cerebrovascular Diseases, 19-22 August 2009, Helsinki, Finland > full story
September 25, 2008
BrainsGate launches ImpACT-24
ImpACT-24 is a randomized, sham-controlled, double blind study to test the safety and efficacy of BrainsGate's ISS for treatment of acute ischemic stroke victims in a 24 hour window > full story
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