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Citrine Global Corp. (OTCQB: TECR) Announces Strategic investment in Nanomedic, a Medical Nanotechnology Company with Breakthrough Technology for Wound Treatment
Citrine Global Corp. (OTCQB: TECR) Announces Strategic investment in Nanomedic, a Medical Nanotechnology Company with Breakthrough Technology for Wound Treatment.
About this update from Citrine Global Corp.
[{"type":"text","content":"\n                             Citrine Global Corp., offering multi-strategy expansion solutions for growth-stage technology companies, participates in an exclusive funding round in Nanomedic, an Israeli medical company with unique technology of nanofiber ‘skin’ that revolutionizes wound care treatment (https://youtu.be/rqKqTIgXZT8) Citrine Global is currently trading as TechCare Corp. (TECR). Its name change to \"Citrine Global Corp.\" is expected to take effect soon. Tel Aviv, Israel, June 16, 2020 (GLOBE NEWSWIRE) -- The board of directors of Citrine Global Corp. (OTCQB: TECR), approved, on June 10, 2020, an investment in Nanomedic Technologies Ltd., an Israeli company, through participation in an exclusive funding round open only to existing Nanomedic shareholders and their affiliates. Citrine Global decided to participate with $450,000. The funding round of $2.2 million is already fully subscribed and the investment agreement is expected to be closed in a few days. Nanomedic developed SpinCare™, the first and only system that integrates the revolutionary electrospinning technology into a portable, bedside device, offering immediate wound and burn care treatment. This exceptional product, developed during the past five years, is patent protected. SpinCare treats burns, wounds, and surgical injuries by mimicking human tissue. The lightweight device emits a proprietary nanofiber “second skin” that completely covers the area that needs to heal. The method avoids any need to come into direct contact with the wound, thus eliminating the painful routine of bandage dressings and risk of infection. The transient skin then fully develops into a secure physical barrier with tough adherence. Once new skin is regenerated, the layer naturally peels off. Using the product does not require any special training. At present, the product is designed for use in hospitals and clinics but in the future, the company will market the product for emergency use such as ambulances, for military use and ultimately for home care. The product has approval for distribution in Europe after gaining the CE mark. It has also been awarded approval by the Ministry of Health (AMAR – Medical Accessories and Devices) in Israel and has recently started the...