Semiconductor equipment supplier Tegal Corp. said Tuesday (Nov. 29) it made a $300,000 strategic investment in NanoVibronix Inc., a privately held firm that develops medical devices and products that implement its proprietary therapeutic ultrasound technology.
NanoVibronix (Nesher, Israel) is a medical device company focused on creating products utilizing its proprietary low-intensity surface acoustic wave (SAW) technology, according to Tegal. The firm is developing a series of products aimed at the treatment of chronic, non-healing wounds, Tegal said.
The company's first product, PainShield MD has been cleared the U.S. Food and Drug Administration and achieved CE Mark certification in Europe, Tegal said. PainShield MD is marketed for the treatment of tendonitis, muscle pain and trigeminal neuralgia, Tegal said.
"Our investment in NanoVibronix expands the Tegal portfolio to new markets and new commercial horizons," said Thomas Mika, Tegal's president and CEO, in a statement.