Nurami Medical has raised $5 million from equity investments and Israel Innovation Authority (IIA) grants. Its most recent round, of $2 million was completed in July 2018, with a strategic partner. Nurami Medical plans to continue to apply to the IIA for additional non-dilutive funding in the development of new products.
NURAMI MEDICAL TARGETS LARGE
AND GROWING MARKETS
Global Soft Tissue
Nurami Medical targets the global soft tissue repair market which reached $16.5 billion in 2017, and is poised to reach $25.6 billion in 2024. The tissue mesh segment comprised 37.5% of this market for over $6 billion.
Nurami Medical ‘s preliminary target is the dural repair market. According to Allied Market Research the soft tissue dural repair market reached $1.35 billion in 2017, and is projected to reach $2.14 billion by 2025, growing at a CAGR of 5.9% through 2025. Nurami Medical targets a $1 billion dural grafts and sealant market which is poised to grow to reach over $1.4 billion in 2025.
The global surgical sealants and adhesives market reached over $1.5 billion in 2016, and is expected to grow at a 7.6% CAGR from 2017 through 2024 to reach $2.8 billion. Nurami Medical’s novel sealant targets this large and growing market.