UltraShape's device uses ultrasound to cavitate body fat. It is designed to provide an alternative to liposuction surgery. The company says that the global market totals $4.4 billion, divided evenly between the US, Europe, and the rest of the world. Liposuction is considered fairly hazardous, since lung tissue and blood can be suctioned out together with fat. UltraShape says that liposuction is the most commonly used esthetic procedure performed in Western countries, particularly in the US, although it causes the death of 20 out each 100,000 patients undergoing the treatment.
UltraShape has already conducted clinical trials on hundreds of women in the US, Japan, and Britain. The company, which has 34 employees, believes that the money it has raised will last until the end of 2005. Meanwhile, UltraShape hopes to obtain European CE Mark Certification in the second quarter of 2005, as well as US Food and Drug Administration (FDA) approval.
UltraShape, a developer of non-invasive medical devices for reducing weight. has raised $6 million from Israel Seed Partners.