ElastiMed

Continued Fundraising Round After Receiving a 4th Grant From The IIA

After completing a successful fundraising round with Exitvalley platform, ElastiMed received a fourth grant from the Israeli Innovation Authority. Now Elastimed offers ExitValley's investors the opportunity to join the company’s success.

Over the past year, the company has made significant progress and successfully completed the development of their unique device. The impression which the product left in a preliminary pilot trial, led to another investment in the company.

On the verge of FDA filing and additional significant breakthroughs

With a working device, one granted patent for its inventive technology, and four additional pending patent applications, ElastiMed is on the brink of a major breakthrough. ElastiMed’s solution is based on smart material technology called EAP or artificial muscle, allowing the device to have a sleek design, quiet and battery operated. The device is designed to apply a highly effective clinical treatment throughout the day, without disturbing the patient’s normal life, as demonstrated in a succesful initial clinical study, showing impressive comparative results, on healthy subjects. Furthermore, the company has recently begun a clinical trial, followed by an expected simple FDA filing process, ElastiMed’s product is ready to take off.

Advanced solution for millions worldwide

Tens of millions of people in the developed world suffer from painful and swollen legs due to poor circulation. However, current solutions are uncomfortable, costly or suffer from limited effectiveness in most cases. The standard of treatment for these patients is primarily compression stockings, which suffer from 60% non-compliance, due to a tight fit and difficulty in putting them on and taking them off. A much more expensive alternative is pneumatic compression devices – inflatable sleeves powered by an air compressor. These devices, while effective, are typically cumbersome, noisy and heavy, thus limiting the patient’s mobility and causing discomfort. ElastiMed created a comfortable and smart wearable device which offers an affordable alternative in this billions of dollars market. Without any marketing efforts, ElastiMed has generated interest from hundreds of patients all over the world, asking when and where they can buy the device.

Significant investments by leading industry players

ElastiMed has gained significant accomplishments early on raising significant sums from IIA, Horizon 2020 and additional investors. Among the company’s investors are Trendlines Medical Incubator, Pix Vine capital and one of the leading providers of compression therapy solutions.

Huge market with many followup market opportunities

The device is designed to also be used for a variety of additional indications. For example,  to reduce recovery time after a workout or sports injury, prevent swelling after sitting down for an extended period (long flight or at the office), treat chronic wounds and to prevent blood clots from forming. The device can also potentially be adjusted to treat the full leg and the arm, and to address different types of circulation problems.

Credit: NormaTec Recovery

Strong and highly motivated team with a world-class advisory board

ElastiMed’s founder and CEO, Omer Zelka, is a smart material enthusiast and an entrepreneur in heart. He has an extensive experience with electro–active materials, and together with a growing, highly versatile and experienced team, Omer recruited to the company’s board of directors global leaders in their field, holding a proven track record of several exits. Furthermore, the advisory board contains a leading material expert, and leading physicians in Israel, Germany and the U.S.. Existing investors, including Omer Zelka himself, are participating in the upcoming financing round.