Radiotherapy tech co Navotek raises $10 million

The round was led by Giza Venture Capital.

For the third consecutive year, radiotherapy positioning start-up Navotek Medical has raised funds in the summer.

This year it has raised about $10 million, led by Giza Venture Capital, along with existing investors Agate Medical Investments, Wanaka Capital, Bridge Investments Fund, and chairman and co-founder Dr. Shimon Eckhouse.

Altogether, the company has raised about $25 million.

Navotek, founded in 2005, develops products to precisely locate and track tumors, which leads to greater efficiency for radiotherapy and chemotherapy, so as to minimize the damage to healthy tissue.

The company's technology is based on a tracer implanted in the targeted growth, which allows it to be tracked during treatment even as it moves with patient movement. This allows the treatment to be retargeted.

Navotek's product is most relevant for prostate surgery and other soft tissue treatment.

About a year ago, the company estimated that it will receive US Food and Drug Administration (FDA) approval in the second half of 2009.

Published by Globes [online], Israel business news - undefined - on June 16, 2009

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