Washington Business Journal
by Tierney Plumb

The Zitelman Group Inc. led a $600,000 funding round for Flexicath Ltd.

The Israel-based medical device firm said it plans to use the money from the Rockville-based investment banking firm to market and boost international sales of its patent-pending catheter.

Flexicath received Food and Drug Administration clearance in October to place its sterile catheter intravenous system in the U.S. market, which makes the IV insertion process faster and cheaper.

The product’s soft silicon base and pivoting access spares patients discomfort and increased risk of infection from having a new IV inserted every three to four days, which is the current practice.

“We are very pleased to be helping Flexicath bring this important new health care technology to the U.S. market, and we congratulate them on receiving FDA clearance for this purpose,” said Rick Zitelman, principal of The Zitelman Group, in a statement.

The four-year-old company emerged from the Misgav Venture Accelerator, an Israeli incubator program, and has scored grant funding from Israel’s Office of the Chief Scientist and investment from the Trendlines Israel Fund.