Neatstitch develops and markets NeatClose, a patented Nitinol based automatic suturing product primarily targeting the Laparoscopic Port Closure Market. NeatClose is an FDA cleared, safe, fast, simple to use and highly effective laparoscopic port closure device designed to close 10 mm or greater port sites. NeatClose consists of a reusable handle, and a disposable cartridge with a prepackaged PGA absorbable suture. The device is safe (there are no exposed needles), fast (port closure is achieved within 20 seconds), simple (the surgeon loads a cartridge and presses a button) and is highly effective (the sutures are evenly placed every time). NeatClose has performed a successful pre-marketing evaluation in leading medical centers in the US and has exhibited in major professional conferences.
In 2005, the U.S. laparoscopic market was about 4.4 million procedures per year, with about 10 million procedures worldwide. The company has scaled up and stabilized production to enable the launch of the product in the US market. Initial sales of the device started in Q210.
Neatstitch was founded with Xenia in 2004, matured incubator in 2006 and raised follow-on funds from leading laparoscopic surgeons and opinion leaders in the US. Since January 2006 the company is located in Or Akiva, Israel.

TEAM

Baruch Marganitt, M.D., CEO
26 years of managerial experience, 12 years of executive positions in the Biomed industry

Oranit Ido, Sales & Marketing Director
10 years in sales & marketing of medical devices

Rami Lore, R&D Manager
20+ years experience in mechanical engineering design / medical start-ups design

Yaniv Ofir, Engineering Manager
20 years of experience in mechanical engineering design and management

Itamar Haran, Operations Manager
5 years of experience in operations management

Osnat Osovsky, QA Manager
4 years of experience in QA affairs management

Board of Directors

Avi Lior, Chairman, Xenia Venture Capital Board Member

Anat Segal, Xenia Venture Capital CEO 

Donna J. Edmonds, CEO and President, Virginia Biosciences Commercialization Center (VBCC)

Paul Rocheleau, Chairman, Virginia Life Sciences Investments LLC (VLSI)

Dr. Thom Lobe, M.D., Pediatric Surgeon, Iowa, USA

Scientific Advisory Board

Dr. Thom Lobe, M.D., Pediatric Surgeon, Iowa, USA

Dr. Gad Lotan, Head, Department of Pediatric Surgery, Assaf Harofeh Medical Center, Israel

Dr. Barry Salky, Professor of Surgery, Mount Sinai Hospital, NYC NY, USA

Dr. Steven D. Schwaitzberg, Chief of Surgery, Cambridge Health Associates  Massachusetts, USA

Dr. Danny Scott, Director, Center for Minimally Invasive Surgery, UT Southwestern Medical Center Texas, USA 

Dr. Lee Swanstrom, Chairman, General & Vascular Surgery, Director of Minimally Invasive Surgery, Legacy Emanuel and Good Samaritan Hospital Oregon, USA 

Dr. Steven Wexner, Chairman, Department of Colorectal Surgery, Cleveland Clinic Florida, USA

Dr. Robert Zurawin, Chief of Minimally Invasive Surgery, Gynecology, The Baylor Clinic Texas, USA

Neatstitch Demo:

http://www.youtube.com/watch?v=2MuA5W876LM

www.neatstitch.com