Elron Electronic Industries Ltd. (NASDAQ &
TASE: ELRN has completed a $7 million investment in BrainsGate Ltd. That company has under development a miniature
medical implant device, which is used to increase the diameter of blood vessels in the brain. The new investment will
give Elron a 20% equity stake in BrainsGate. Other current investors in BransGate include Boston Scientific Limited, FBR Infinity
II Ventures, MB Venture Capital Fund and Pitango Venture Capital Fund.
Doron Birger, Elron's CEO indicated that the technology
would enable new treatments for brain related diseases, "Our investment in BrainsGate provides us with a promising opportunity
to participate in the development of its innovative technology to enable the use of a broad variety of medications and treatments
for brain related diseases."
