KidneyCure, the Israeli cell therapy company based in Tel Aviv, is developing a treatment for end-stage renal disease. This innovative company recently announced the financial support of new investors, Aurum Ventures, controlled by Morris Kahn, and Direct Insurance –Financial Investments. Altogether, the addition of these two investors brings the total capital raised by KidneyCure to $4 million.
KidneyCure uses the patient’s cells to produce a “mini-kidney” that supports the activity of the diseased kidney. The goal of this therapy is to postpone the need for dialysis or a kidney transplant. The entrepreneur and developer of KidneyCure’s cutting-edge product is Prof. Benjamin Dekel, Head of the Pediatric Stem cell Research Institute and the Director of the Division of Pediatric Nephrology at the Edmond and Lily Safra Children’s Hospital, Sheba Medical Center.
Currently, there are an estimated 200 million patients worldwide with chronic kidney disease; it has reached epidemic proportions. With 30 million patients in the United States alone, annual spending on chronic kidney disease treatment exceeds $64 billion, which equals about 20% of all medical spending by Medicare in the US. In response, KidneyCure introduces a progressive technology to treat advanced kidney disease, for which there is not yet a cure.
“Aurum Ventures’ investment is an expression of confidence in KidneyCure,” says Dr. Yaar. “Beyond the investment, Aurum contributes vast experience and a profound knowledge of the field to KidneyCure and its board of directors. The new capital raised will enable us to expedite research and development, meet the target for completion of the regulatory process, and bring the company to the beginning of clinical trials.”
Previous investors in KidneyCure include Jonathan Leitersdorf, Prof. John Finberg, and Gilad Altshuler Holdings.