# Elixir Medical Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elixir-medical

- Industry: Healthcare
- Headquarters: Milpitas, US
- Website: www.elixirmedical.com
- Total disclosed funding: $5.3M
- Latest round: Series A (Mar 18, 2005)
- Investors on record: 1

## About

Elixir Medical Corporation is focused on innovating medical technologies to enhance vascular interventions, specifically targeting coronary and peripheral artery diseases with advanced treatment solutions.Elixir Medical Corporation develops advanced medical devices aimed at improving vascular interventions. Founded in 2005 in Milpitas, US, the company has raised USD 5.3 mn in a SERIES A funding round led by Invus Group. The founder, Mahmoud Hanbazazah, has experience in medical technologies, enhancing the company’s strategic direction. The firm has executed a single deal since its inception on March 18, 2005.Elixir Medical specializes in developing disruptive medical technologies focused on vascular interventions. Key products include the DynamX Sirolimus Eluting Coronary Bioadaptor System and the DESyne X2 Novolimus Coronary Stent System, designed to enhance treatment of coronary artery disease. The DynamX system's unique bioadaptive design promotes optimal arterial healing and minimizes adverse events. These products are utilized in hospital settings by cardiologists and interventional specialists, with a strong market presence in North America and Europe, supported by CE mark approvals for international distribution, although some products remain investigational in the US.Elixir Medical generates revenue through direct sales of its medical devices to healthcare providers and hospitals, utilizing partnerships with distributors and medical device wholesalers. The business model operates on a B2B basis, where products like the DynamX Coronary Bioadaptor System are purchased for interventional cardiology use. Revenue is derived from product sales and agreements that often include training provisions for medical staff, thus fostering integration of Elixir’s technologies in clinical practices. The DynamX and DESyne stent systems are pivotal to this revenue model, catering to the increasing demand for innovative solutions in vascular health.Elixir Medical plans to leverage its recent funding of USD 5.3 mn raised in March 2005 to further develop and launch new products designed to enhance vascular intervention efficacy. The company aims to expand its market reach into additional regions, specifically targeting healthcare providers in Asia by 2025. Recent funding will facilitate research and development for upcoming products, enhancing its portfolio and supporting geographic expansion efforts.

## Funding rounds

- Series A, Mar 18, 2005, $5.3M — Invus Financial Advisors

## Investors

- Invus Financial Advisors (https://capitalatlas.ai/funds/invus-financial-advisors) — Series A