Ornim Medical, a developer of non-invasive patient monitoring solutions for cerebral and tissue blood flow, has completed a $10 million financing led by OrbiMed Israel, with participation from GE and Agate Venture Capital. The investment constitutes the second phase of a previous fundraising round carried out by the company in 2012, where OrbiMed, GE, and Agate invested a total of $10 million.
The new financing was carried out after Ornim fulfilled all set milestones, including placement of systems in leading centers, mainly in the U.S., and research and development goals. Ornim's lead devices, CerOx and c-Flow, utilize weak acoustic beams to identify light emerging from deep tissue layers, thereby measuring localized bloodflow through acousto-optic effects. The investment will allow the company to accelerate product development and promote its international marketing.