Via Surgical Raises Funding from Catcher Technology to Accelerate Growth
Via Surgical raises funds from Catcher Technology, making its first investment in the medical device field -- Via Surgical was selected after a thorough scouting process supported by the Ministry of Economy and Industry Economic Mission in Taipei
HAIFA, Israel, March 18, 2021 — Via Surgical, a leading developer of novel surgical fixation solutions, is pleased to announce it has received an investment from Catcher Technology, which has grown from a family-owned business into an Asian manufacturing giant listed on the Taiwan Stock Exchange. This is Catcher’s first investment in the medical device industry.
Catcher Technology embarked on a scouting process together with the Israel Economic and Trade Mission in Taipei. Via Surgical stood out in its uniqueness and compatibility with Catcher’s core capabilities.
The new funding will be used to accelerate Via Surgical’s growth in the APAC region and will support development and production of the company’s trademarked FasTouch™ deployable suture fixation system, which makes hernia repair surgeries less labor-intensive for surgeons and recovery less painful for patients. The FasTouch™ lockable, closed-loop sutures offer superior repair holding strength, durability, and flexibility while being easy for surgeons to use in a busy operating room. Via Surgical has secured two U.S. Food and Drug Administration 510(k) clearances for the FasTouch™ Absorbable and FasTouch™ Permanent Fixation Systems.
The gold standard of attaching medical repair meshes to soft tissues is suturing -- stitching using a needle and thread -- but that method requires more time and a larger surgical cut. The alternative to suturing is use of tacks and anchors, which can be more quickly deployed, but are also more easily dislodged when a patient coughs, laughs, or stretches. In fact, the majority of U.S. surgeons supplement tacks with transfascial sutures. Via Surgical’s FasTouch™ technology deploys fasteners as quickly and easily as tacks, but with the superior holding power of sutures.
“We’re excited to partner with Catcher as it will help us ramp up production of our surgical fixation technologies,” said Lena Levin, Co-Founder and CEO of Via Surgical. “We are also grateful to the Israeli Foreign Trade Administration for recommending us as one of the leading medical technology developers in a country that is at the forefront of medical innovation. This is a real validation of our efforts and will support us as we expand our technological development into additional surgical areas.”
“There is a significantly increasing trend of electronic and ICT companies in Asia pivoting to the medical field,” said Tslil Lahav, Head of the Israel Economic and Trade Mission in Taiwan. “Israel’s strengths and capabilities in this field had drawn Catcher’s attention, and we are very proud to have been able to help them connect with Via Surgical, an innovative, woman-led company developing cutting edge medical tech. We hope to see many other Taiwanese corporations follow in Catcher’s footsteps and look forward to many similar success stories in the future.”
Catcher Technology spokesperson Kevin Yeh said, “There’s a lot of exciting work going on in the startup ecosystem in Israel, and Via Surgical stood out to us for its innovative approach to surgical technology. We look forward to working with the company through this strategic investment.”
About Via Surgical
Via Surgical Ltd. provides lockable fixation solutions for soft tissue repairs. Realizing that soft tissue tends to move, shift, contract and expand, Via Surgical’s products are designed to lock into the tissue, providing a secure fixation. The company was founded in 2012 by a dedicated team with a successful track record in the hernia space. It has raised more than $12 million in funding, led by OTV VC and with an investment from Asian manufacturing giant Catcher Technology, its first in the medical device field. To date, Via Surgical has three FDA clearances, and 17 issued patents in the US and worldwide, and 17 additional provisional patents filed in the US. Via Surgical’s soft tissue fixation system was voted as one of the Top 10 Surgical Solutions by MedTech Outlook Review. The company also received the Seal of Excellence from Horizon 2020, the EU’s research and innovation funding program.
About Catcher Technology
Catcher Technology, headquartered in Taiwan, is a world leader of precision manufacturing in the ICT industry, producing smartphone and high-end laptop metal casings for global brand customers. Over the past 30 years, Catcher has developed manufacturing expertise in various materials and mastered a complete set of advanced processes -- from forming, machining, surface finish, to assembly. In 2020, Catcher’s founder and CEO was named No.1 CEO in Taiwan by the Harvard Business Review. Looking into the future, Catcher is actively expanding into Medtech, electric vehicle, and 5G spaces to further create value with its design and manufacturing capabilities.
About The Foreign Trade Administration - Israeli Ministry of Economy & Industry
The Foreign Trade Administration (FTA) at the Israeli Ministry of Economy & Industry manages and supports Israel’s international trade and investments policy. Through its headquarters in Jerusalem, together with 50 economic and trade missions in key financial centers throughout the world, the FTA promotes Israel’s economy worldwide. Israel’s economic & trade missions are at the forefront of the Israeli government’s efforts to boost the country’s industries in foreign markets and attract foreign investments. A team of highly experienced economic representatives and business consultants provides a wide range of services to Israeli companies and to the international business community.
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