Escala Secures $4.5M in Funding to Accelerate Global Expansion of FDA-Approved Medical Device

Whats Happening:

Escala Medical Ltd. has successfully raised $4.5 million in funding to accelerate the global expansion of its FDA-approved medical device for treating pelvic organ prolapse. The investment round includes participation from the EIC Fund, following a €2.5 million grant awarded in October 2023, as well as private investors from the United States and Israel.

Key Moves:

• Escala Medical secures $4.5 million in funding

• EIC Fund participates in the investment round

• Funds to be used for U.S. commercial expansion and European market entry preparations

By The Numbers:

• $4.5 million raised in the latest funding round

• €2.5 million grant awarded by EIC Accelerator in October 2023

• Hundreds of successful procedures performed using Escala's device since FDA approval in 2023

Key Quotes:

• "This funding marks an important milestone as we continue to scale our operations and bring our breakthrough technology to more women worldwide," - Dr. Edit Goldberg, CEO of Escala

• "Being selected for the EIC Accelerator and receiving both a grant and equity investment from the EIC Fund is a major vote of confidence in our technology, our team, and our vision," - Robert D. Auerbach, M.D., Chair of Escala

• "The EIC Fund is proud to support visionary companies like Escala. Their work exemplifies the transformative potential we aim to nurture through the EIC," - Svetoslava Georgieva, Chair of the EIC Fund Board

Bottom Line:

Escala Medical's successful funding round, including investment from the EIC Fund, positions the fund to expand its innovative pelvic organ prolapse treatment globally. With FDA approval and a growing presence in the U.S. market, Escala is poised to enter the European market and expand into Southeast Asia, potentially improving treatment options for millions of women worldwide.

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