Sofwave Medical, which made its initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE) on May 26, has raised $50 million at a pre-money valuation of ~$200 million. The IPO was led by Barak Capital Underwriters, the company reported Thursday.
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Sofwave develops energy-based non-invasive skin treatment aesthetic medical devices. The company is one of the only companies in the field of aesthetic medicine that is listed on TASE. The company has developed Synchronous Ultrasound Parallel Beam Technology SUPERBTM, which provides a reduction in fine lines and wrinkles and restoration of skin features, and revitalizes collagen. Sofwave's product is FDA cleared and has the EU CE mark with sales across the global markets.
Dr. Shimon Eckhouse, CEO and co-founder of Sofwave, said, "SofwaveTM has developed groundbreaking technology for non-invasive treatment of fine lines and wrinkle reduction … The IPO on the Tel Aviv Stock Exchange creates an opportunity for global investors to participate in the growth potential of this field and will enable Sofwave to continue to grow and establish its position as a world innovation leader in the field."
