Endoron Medical Raises $10 Million in Series A Funding

Endoron Medical’s financial health has significantly improved, as the company has successfully closed a $10 million Series A funding round led by Sofinnova Partners. Significant matching contributions came from the European Innovation Council Fund (EIC Fund).

The influx of capital will accelerate the clinical validation of Endoron’s flagship product, the catheter-based EndoStapling solution Aortoseal, as it progresses through its Investigational Device Exemption (IDE) approved Early Feasibility Study (EFS).

“Sofinnova Partners are the go-to investors within medtech. They bring a wealth of operational experience working with high-growth companies like ours,” Endoron Co-Founder/CEO Ronit Harpaz said. “With their continued support, I am confident we will reach key clinical and regulatory milestones as we advance our EndoStapling technology towards the clinic. The EIC’s participation further solidifies our commitment to bringing this innovative solution to the European market.”

Endoron is developing advanced technologies for the endovascular repair of abdominal aortic aneurysms (AAA). Its technology addresses the critical challenges of sealing and securing endografts used in minimally invasive AAA repairs, particularly in complex procedures. Endoron’s stapling mechanism ensures complete endograft sealing while securely anchoring them, preventing long-term migration and endoleaks, thereby reducing the need for highly invasive, high-mortality open surgeries.

“Endoron is a clear example of Sofinnova Partners MD Start’s acceleration strategy which identifies promising innovation at the earliest stages and provides capital as well as operational expertise via our team of serial entrepreneurs. We believe that Endoron’s innovative EndoStapling has the potential to revolutionize endovascular repair of AAA, and we are excited to support them in their journey,” said Cécile Dupont, partner at Sofinnova Partners’ medtech accelerator, MD Start.

Svetoslava Georgieva, Chair of the EIC Fund Board, said: “We are very happy to participate in this funding round for Endoron. EIC Fund’s investment will help them advance their endovascular repair solution and reduce complications and reinterventions for patients.”

Founded in 2019, Endoron Medical was established by a team of experts with extensive industry expertise and entrepreneurial experience. The founding team includes Harpaz, an Elite 8400 member and former CEO of Bendit Technologies; Prof. Ron Karmeli, a world-renowned vascular surgeon; and Eyal Teichman, a mechanical engineer with more than 30 years of R&D experience. 

Sofinnova Partners is a European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London, and Milan, the firm brings together a team of professionals worldwide with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future. Founded in 1972, Sofinnova Partners has 50 years of experience backing more than 500 companies. The company has more than €2.8 billion under management. 

The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance. The European Investment Bank acts as investment adviser to the EIC Fund. The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding. The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.