Israeli Cryoablation Firm Treating Breast Lumps Raises $4 million

An Israeli medical device company with offices in Cleveland, Ohio has raised $4 million, according to a regulatory filing

IceCure Medical has developed a minimally invasive treatment to destroy symptomatic breast fibroadenoma. Fibroadenomas are benign lumps in the breast that can develop in younger, premenopausal women. The IceSense3 treatment involves using ultrasound image to guide a thin, hollow needed into the lump. Then cryoablation is performed by which liquid nitrogen, which acts as a freezing agent is targeted at the fibroadenoma to destroy the tumor.

The procedure can be performed in an office setting under local anesthesia, according to the company in contrast to surgical excision that takes longer, although it is considered an outpatient procedure.

IceCure Medical is led by Hezi Himelfarb. A call to the Ohio office of the company wasn't immediately returned. One of the company's investors is Bridge Investment Fund, which has offices in Cleveland and Israel.

Posted in Medical Venture Capital by Arundhati Parmar on September 12, 2013