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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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July 15, 2014
ImpACT24 Interim Results
The Data Safety Monitoring Board (the "DSMB") for BrainsGate's study examined the interim results and deterimined the results support the continuation of the study > full story
January 1, 1970
> full story
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