ProArc Medical Awarded $2.2 Million European Union Grant

TEL AVIV, Israel, July 2, 2019 /PRNewswire/ -- ProArc Medical ("ProArc"), announced that it received a $2.2 million grant from the prestigious Horizon 2020 program as a part of the European Innovation Council pilot. The two-year grant supports further scientific studies and commercialization of ProArc's ClearRing BPH implant.

Benign Prostatic Hyperplasia (BPH), or enlarged prostate, is one of the most common urological diseases among men. As the prostate enlarges with age, it presses on and blocks the urethra, causing urinary symptoms that seriously affect quality of life. Over 50% of men in their 50s and up to 90% of men over 80 experience BPH symptoms. About one-third of these men will develop symptoms that require treatment.^[1]

ProArc's ClearRing implant is a minimally invasive prostatic reshaping implant designed to treat lower urinary tract symptoms due to BPH. Prostatic support is provided by a proprietary pre-shaped nitinol implant positioned inside the prostate tissue just under the urethral surface. The ClearRing procedure allows patients to resume their normal lifestyles and preserves patients' sexual function through a procedure that is up to twice as fast as the current standard surgical procedure. 

ProArc CEO David Nitsan commented: "It is an honor to be chosen to receive the Horizon 2020 grant which further affirms the need for a better BPH solution. This award represents another step forward in ProArc's journey to offer a simple and reversible procedure, with a focus on improving quality of life, to the many men in need."

About ProArc Medical, Founded in 2010 by Dr. Yair Feld and The Trendlines Group (SGX: 42T) (OTCQX: TRNLY), ProArc is an Israeli company that develops minimally invasive solutions to alleviate symptoms caused by BPH or enlarged prostate and improve the quality of life of men suffering from BPH.

CONTACT: 
David Nitsan, CEO ProArc Medical
[email protected]
+972.72.260.7000
Shira Zimmerman, Investor Relations, The Trendlines Group
[email protected]

[1] https://www.webmd.com/prostate-cancer/enlarged-prostate#1

SOURCE ProArc Medical