RedDress Tech (from company’s Facebook page)
RedDress, an Israeli medtech startup that has developed a proprietary blood-based technology to treat chronic wounds that it says comes with almost “zero risk” of infection, raised $26 million in a Series D financing round with participation from ATHOS Biopharma GmbH, and other life science investors.
The company has now raised a total of $43 million to date.
Even in times of financial crisis, such as the world is going through today, Israel Startup Nation still leads the way when it comes to developing new medical technologies. And this brings in the money from eager investors.
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For example, InspireMD, an Israeli medtech firm and the developer of the CGuard Embolic Prevention Stent System (EPS) for the prevention of stroke, earlier this week raised $113.6 million. And earlier this month, Magenta Medical, an Israeli medtech startup, brought in $55 million for what the company says will be the world’s smallest heart pump.
Founded in 2009 by Dr. Igal Kushnir, MD and CEO Alon Kushnir, RedDress is a private medical device company that developed a wound care product based on a patented technology to reproduce the natural process of the body to heal wounds. The company is focused on developing “effective solutions that improve outcomes for patients.” RedDress boasts that its management has vast experience in bringing breakthrough medical ideas to successful commercialization.
RedDress’ main product is the ActiGraft, an autologous, point-of-care wound management solution that creates – in real-time – an in-vitro blood clot from patients’ own whole blood. Once applied to the wound, the blood clot jump-starts the wound healing process, serves as a protective covering, and optimizes the body’s own healing potential. The ActiGraft product family can be used for a wide variety of chronic wounds including diabetic and neuropathic ulcers, venous ulcers, pressure injuries, traumatic wounds, post-surgical wounds, skin tears, surgical wounds and more.
Since RedDress received FDA clearance and a CE Mark in 2020, ActiGraft has helped over 6,000 patients across the spectrum of healthcare facilities in the United States and 30 other countries.
“Healing is in our blood, and we are grateful for the continued support from our investors as we advance our mission of supplying healthcare providers with an effective solution to treat chronic and complex wounds through an innovative system that harnesses the power of patient’s own blood,” said Alon Kushnir, CEO and co-founder at RedDress. “This latest funding round further validates the efficacy and strong market performance of the ActiGraft system and provides us with critical resources to expand our autologous, blood-based wound care solutions so we can continue to develop new innovations in other healthcare fields.”
