Medingo announces it has completed a financing round of approximately 27 million dollars, jointly led by Elron and Radius Ventures, a U.S. venture capital fund. Medingo was established only two years ago within RDC and has made tremendous strides in a very short time. Medingo is in advanced stages of the development of it's product, and it expects to receive FDA approval and to commence sales in 2008. Medingo is now completing its first significant round of financing at a post money valuation of approximately 82 million dollars.