BioProtect is an Israel-based medtech startup that is working on a spacer balloon that helps radiotherapy and oncological procedures. Now, the startup raised a $13M Series D. One of the investors is the single family office of Vincent Tchenguiz.
Innovative technology against rectal toxicity
BioProtect initially developed a technology to produce biodegradable balloons – which can be used in various clinical applications. One main use case of BioProtect’s spacer balloon is the protection of healthy tissue for patients who receive prostate radiotherapy. BioProtect’s balloons are made of bioresorbable polymer. Through the biodegradable design, the balloon disappears within six months. Thereby, there is no need for additional surgical procedures. BioProtect is led by CEO Gil Rosen and Co-Founder and CTO Shaul Shohat. Shohat already had two successful exits in the medtech space.
$13M Series D Equity Financing from various investors
In total, BioProtect raised $13M with its recent Series D. Investors include the Korean firm KB Investments, VC Accelmed Ventures II and the single family office of Vincent Tchenguiz. Tchenguiz is an Iranian-British entrepreneur who has an estimated net worth of 850M GBP. The Tchenguiz family mainly earnt their wealth through the establishment of the Rotch Property Group. The family office is an active investor in European (and especially Israeli) tech firms. He was the largest shareholder of Cambridge Analytica and one of the investors in defense technology startup eViglio.
Sources
MedicalDevice Network, 16.1.2019
LinkedIn (Picture), 16.1.2019
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