Pomegra
Tel Aviv's Phantom GI raised a $5M seed round led by Pitango HealthTech to take PercStoma, a 20-minute needle-based ostomy alternative, into US trials.
Key Takeaways
- Phantom GI closed a $5M seed round on October 8, 2026, led by Pitango HealthTech, with RAD Biomed and RUNI Ventures.
- Its PercStoma device would create an ostomy in about 20 minutes under local anesthesia. It has no regulatory approval.
- Valuation is undisclosed. The money funds device development and the first phase of US clinical studies.
Lead
Phantom GI, a Tel Aviv medical device startup founded in 2025, raised $5M in seed funding on October 8, 2026. Pitango HealthTech led the round, and RAD Biomed and RUNI Ventures participated. The company has not disclosed a valuation.
The capital goes toward PercStoma, a device meant to create an ostomy with a single needle puncture instead of abdominal surgery. Phantom GI will also use it to begin the first phase of clinical studies in the United States.
What Does PercStoma Do?
PercStoma creates an ostomy through a needle puncture guided by X-ray imaging, under local anesthesia, and the company puts the procedure at about 20 minutes. A proprietary stent sits between the bowel and the skin surface to form the opening.
A conventional ostomy takes an abdominal incision and general anesthesia. Surgeons bring a section of intestine to the skin to form a stoma, which drains into an external bag. The company also says its stoma could be removed in a doctor's office, which would avoid a second major operation.
Reversal is a real constraint today. According to the company, roughly half of eligible patients cannot undergo surgical reversal because of complications.
Who Is Phantom GI Built For?
The first target is patients with malignant bowel obstruction who are considered inoperable for conventional surgery. The company estimates that more than 100,000 US bowel obstruction patients a year could benefit. It cites 55,000 annual US deaths from malignant bowel obstruction and a surgical cost of about $70,000 per procedure.
It names a second group of roughly 100,000 people with conditions such as inflammatory bowel disease who seldom receive a stoma. All of these figures are company estimates. None has been tested against clinical outcomes.
How Did the Idea Start?
The concept traces to a 2023 case. Dr. Eran Shlomovitz, a surgeon and interventional radiologist, treated a woman whose cancer had caused a bowel obstruction and who could not have conventional surgery. Using standard equipment and X-ray guidance, he relieved the obstruction. The company says she went back to eating normally, returned to work and continued cancer treatment.
Shlomovitz is now chief medical officer. Dr. Eliahu Bekhor is chief scientific officer, and Ido Sadan is CEO. Sadan said there is a group of patients for whom the standard surgical option is simply too invasive.
Why Does This Seed Round Carry Risk?
The round is an initial seed with no prior financing to compare against, so there is no step-up to read. The company is about a year old, and the product is investigational.
The 20-minute figure and the office-based reversal are design targets, not trial results. Safety, effectiveness and patient selection all need clinical data. A $5M round covers development and an early human study, and a larger raise will probably be needed before any regulatory submission.
The lead investor's involvement matters mainly as a signal about the clinical niche. Inoperable malignant obstruction is a narrow population with few alternatives, which gives a first trial a clear endpoint. The company's broader claim, that percutaneous ostomy could reach patients who now avoid stomas, is a larger bet that early studies will not settle.
What Comes Next for Phantom GI?
The next milestone is first-in-human data from the US studies. Results will show whether the stent holds in place, how often complications occur, and whether the procedure time matches the 20-minute target. Regulatory strategy and the size of the next round will depend on those readouts.
Outlook
Phantom GI starts with $5M, three founders with surgical and scientific backgrounds, and a device that has not yet been tested in a formal trial. The pitch is a less invasive path for a patient group with few options. Clinical evidence from the first US studies will decide whether the pitch holds, and it will set the terms of any follow-on financing.
