More than half of the investments in the round came from new investors which means that the company has currently a total of 267 shareholders. Last autumn Medicortex signed a 2 million dollars research grant contract with the US Department of Defense (DoD) to develop a prototype of a rapid test for detection of mild traumatic brain injury or concussion in urine samples.

“While the contract with the DoD supports the main product development activities for the coming year, the grant is bound to the activities presented in the project plan. The funds raised in the share issue enable us to activate parallel initiatives to pave the way for the future products.” says Dr. Adrian Harel, CEO of Medicortex. “Continuous support from many old shareholders together with the public interest and investments by a fair number of new investors indicate that we are on the right path.” Dr. Harel concludes.