Escala Medical Ltd. ("Escala"), a medical technology company specializing in innovative repair solutions for women with Pelvic Organ Prolapse (POP), today announced the successful completion of a $4.5 million funding round. The investment included the EIC Fund, following a €2.5 million grant awarded to Escala in October 2023 through the prestigious EIC Accelerator program. The round also included participation from private investors in the United States and Israel.

The funds will be used to expand Escala's commercial operations in the U.S., where the company's flagship device has been FDA-approved and commercially launched in 2023. To date, hundreds of successful procedures have been performed using the device. The funding will also support preparations for market entry into Europe, pending CE approval, as well as additional international growth through a newly signed distribution agreement with a Singapore-based partner covering Southeast Asia.

"This funding marks an important milestone as we continue to scale our operations and bring our breakthrough technology to more women worldwide," stated Dr. Edit Goldberg, CEO of Escala. "We're proud to have the support of the EIB and our private investors, and we remain committed to advancing the next generation of our Mendit device to improve outcomes and expand access to millions of women worldwide who suffer from organ prolapse."

"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. These programs are among Europe's most prestigious and competitive — and we are honored to be among the few companies chosen," added 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. This marks a significant milestone in their journey to bring much-needed innovation to women's health," said Svetoslava Georgieva, Chair of the EIC Fund Board.

Escala currently has a direct sales team of representatives operating in the U.S., and with strong clinical performance, growing international demand, Escala is positioned for significant growth in 2025 and beyond.

 

Source: prnewswire.com

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