Medical device developer RadiAction Medical said today it closed a $5.7 million strategic A round to support its novel radiation shielding device.
The round was led by HighGround Tairun Investment, the Tel Aviv, Israel-based company said. HighGround Tairun Investment is an investment fund co-managed by Chinese HighGround Capital and Boya Capital.
RadiAction’s shielding technology transfers radiation shielding from the personnel operating the fluoroscopy system to the system itself, the company said.
“Our breakthrough solution will allow medical teams performing image guided interventional procedures to increase the number of procedures performed annually, as well as to extend their stay in the catheterization lab, work more efficiency and comfortably and significantly reduce the risks involved in exposure to X-ray radiation. We are excited to start working with our new investors to bring our unique technology to the global market,” CEO Jonathan Yifat said in a press release.
The company touted trials of a non-commercial prototype of its novel technology which showed a 97% reduction in scattered radiation levels in catheterization rooms without the use of personal shielding garments.
“We are very happy to be part of RadiAction and we strongly believe that their breakthrough technology will become the standard for radiation protection in the interventional rooms,” HighGround Capital partner Zhu Jianping said in a prepared statement.
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