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Israeli Medical Device Company WhiteSwell Raises $30 Million

Israeli Medical Device Company WhiteSwell Raises $30 Million

WhiteSwell will use the funding to develop its catheter-based technology to treat a condition related to heart failure

Lilach Baumer  :  2018-12-11T15:02:40..
Ireland-headquartered medical device company WhiteSwell Ltd. has raised a $30 million series B led by Boston-based RA Capital Management and an InCube Ventures syndicate, the company announced Tuesday.

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Founded in 2014 by chief technology officer Yaacov Nitzan, Israel-based WhiteSwell develops a minimally invasive catheter-based method for removing excess fluids from the lungs and other organs.

Hospitalization (illustration). Photo: Shutterstock Hospitalization (illustration). Photo: Shutterstock Hospitalization (illustration). Photo: Shutterstock

The company said it will use the recent funding to develop its treatment for acute decompensated heart failure (ADHF), a condition that occurs when a failing heart cannot circulate fluids in the body efficiently, causing severe fluid buildup in multiple organs. A 2016 study published in the American Journal of Epidemiology found that ADHF is responsible for nearly two million hospitalizations a year just in the U.S.

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WhiteSwell is currently conducting an early feasibility study for the treatment at clinical sites in the U.S., Israel, and Europe.

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