|May 16, 2004
Michael Berman joins Israel Seed Partners as a Venture Partner
|Michael Berman, former president of Boston Scientific's Cardiovascular business, is joining Israel Seed Partners as a venture partner and industry advisor. Berman is currently also chairman of TopSpin Medical, an Israel Seed portfolio company developing a novel intravascular MRI system for interventional cardiology.
Berman is a medical device entrepreneur working with a select group of high potential development and early commercial stage companies. From 1995-2000 Mr. Berman was President of Boston Scientific/Scimed. As President of Scimed Mr. Berman expanded the Company's leadership in the interventional cardiology market. Under his leadership, the company increased worldwide sales from $300 million to $1.5 billion, fully integrated four acquired interventional cardiology businesses, invested more than $250 million in research and technology, and introduced more than 40 new products. Prior to joining Scimed, Mr. Berman worked in marketing for Marietta Corporation from 1985-1986 and in Baxter Corporation's Israel facility from 1981-1984. He has a BA and an MBA from Cornell University.
"We are delighted that someone of Mike's stature, experience, industry knowledge and contacts will be working with us," said Neil Cohen, founding general partner and head of the life sciences practice at Israel Seed. "We believe the medical device sector in Israel will produce many exciting opportunities and that Mike will help us identify and capitalize on these opportunities."
"I have been impressed with the creativity and ingenuity of Israel medical device inventors and entrepreneurs and I look forward to working with Israel Seed to identify and grow development stage medical device companies in Israel," said Berman.
About Israel Seed Partners
Israel Seed Partners is a leading early-stage venture firm with approximately $300 million under management in its four funds, focused on promising Israeli companies in life sciences, software, semiconductors and communications. Representative investments include Compugen (NASDAQ: CGEN), Shopping.com, Denx (ASX: DNX), Commtouch (NASDAQ: CTCH); Finjan, Native Networks, Xacct (acquired by Amdocs, NASDAQ: DOX), and Business Layers (acquired by Netegrity, NASDAQ:NETE).
Israel Seed's Limited Partners include IBM, The Wellcome Trust and the MIT Endowment, AOL Time Warner and Horsley Bridge, among others.
Israel Seed Partners
Tel. +972 2 5655111