Remon has pioneered the first human use of an implantable intra-vascular wireless telemetric communication system. Former Israeli naval officers, who applied ultrasound sonar concepts in submarines, developed the company's technology.
The Remon ImPressureTM offers on-demand, non-invasive means to monitor intra- vascular pressures, following endo-vascular graft procedures. The company says it has finished enrolling patients for clinical trials of its system. The device was developed in collaboration with Guidant Corporation, which focuses on technology for treat -ing cardiac and vascular diseases.
Remon was established in 1999 in the Ofer Brothers' technology incubator. In 2001 Remon raised $10 million at a post-money company valuation of $30 million.
In July 2003 IHTIR featured Caesarea based Remon Medical Technologies as a highly interesting medical startup. The company recently announced that it has completed a $16 million financing round, led by Lilly Ventures, the investment arm of Eli Lilly, and KBL Healthcare Ventures. The Ofer Brothers and existing shareholders, including the U.S. fund Polaris Venture Partners and Concord Ventures of Israel, also participated inthe financing.