The round was led by a group of US, Europe and Israel-based investors; Proceeds will be used to complete its clinical trials and register its breakthrough proprietary Hyaluronic Acid Dermal Fillers in Europe
Hallura Ltd., an Israeli based aesthetic medical company developing a new generation of Hyaluronic Acid (HA) Dermal Fillers, closes its A round of $7M. The financing round was led by a group of US, Europe and Israel-based private investors; most of the investment comes from leading plastic surgeons and dermatologists. Hallura is a portfolio company of Alon Medtech Ventures owned by Dr. Shimon Eckhouse and is part of the Israeli Innovation Authority (IIA) incubator system.
Hallura's HA Dermal Fillers are based on proprietary technology developed by the company over the last two years. Unlike the 20-year-old technology used in currently available HA fillers which are based on using BDDE for cross-linking; Hallura developed a novel crosslinking technology answering the growing demand for natural and soft non-invasive aesthetic treatments. Hallura's products are based on a radically different crosslinking mechanism which maintains and protects natural HA long chains. Hallura completed a full set of in-vivo animal studies of its products showing excellent safety and higher potential for skin lifting compared to the leading products in the market.
Dr. Stéphane Meunier, co-founder and CEO of Hallura commented: "We are very proud of the breakthrough we achieved in the last two years: we have now a very promising HA technology platform, state of the art facilities and equipment as well as a highly qualified team. HA fillers represent the obvious first application of our technology, we plan in the future to explore other medical applications as well."
Dr. Shimon Eckhouse, co-founder and chairman of Hallura commented: "We are very pleased to complete this financing round of Hallura adding to our shareholder's base one of the most distinguished group of aesthetic doctors in the world. This round will enable us to execute on our plan to build and position the company as a leader in the filler market which became the largest segment of the global, non-invasive aesthetic market."
Dr. Per Hedén, co-founder of Hallura commented "Having been involved in the introduction of the first non-animal HA filler on the market more than 20 years ago and being intensely involved in the use and development of this technology my perspective is very broad on what the market needs are and what doctors and patients are looking for in a new HA filler; and I must say that I believe Hallura´s new HA line will disrupt this field with a totally new set of features of HA fillers and the way they are produced and used by doctors. I am very excited to be part of the Hallura team and to reinvent HA which became the most popular aesthetic solution used by doctors world-wide".