BioProtect Raises $28M to Support US Commercialization of Biodegradable Balloon Implant System

Israel-based BioProtect has closed a $28 million financing led by MVM Partners, followed by existing investors including Triventures, KB Investments, Peregrine Ventures, Almeda Ventures and Vincent Tchenguiz’s Consensus Business Group, to support the US commercialization of the BioProtect Balloon Implant System, which was recently cleared by the FDA for rectal protection during radiation therapy for prostate cancer.

We believe that our balloon has the potential to revolutionize rectal protection from radiation toxicity during prostate cancer radiotherapy, and to date, our spacer has been successfully implanted in over 2,000 patients worldwide and has proven to be safe and effective,” said Itay Barnea, CEO of BioProtect.

BioProtect will officially launch its balloon technology at the American Society of Therapeutic Radiology and Oncology (ASTRO) Annual Meeting in San Diego from 1-4 October.