Misgav Newsletter Q1 2007
What a year –- 2006 -- a record year for the MTC in many ways:
- Nine MTC companies — including Dune Medical, Enzy-Surge, ETView, Flexicath, Genova, Immunovative, and PBC Lasers — raised some $19 million in 2006.
- Four new companies joined the MTC: ID-U Biometrics, ProIV Medical, Virtual Ports, and Headway.
- The privatization process continues to progress. Completion of the process during 2007 will enable us to expand our activities and to provide even greater support to our portfolio companies.
I want to take this opportunity to thank our entrepreneurs, our scientists, our board, our staff, our investors, and our friends for their support and assistance throughout the year, and to wish everyone a happy, healthy, and prosperous 2007.
Steve Rhodes, CEO
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News
ENZY-SURGE COMPLETES $1.7 MILLION B ROUND
EnzySurge closed its third financing round with a $1.7 million raise from private investors. The round was managed by accountant Eli Gilboa of Gilboa & Licht Investment House, one of EnzySurge’s existing investors. The company develops treatments for chronic wounds.
ETVIEW COMPLETES PRIVATE INVESTOR ROUND
ETView recently completed a $1 million in a “private investor” round.
ETView has developed the Tracheoscopic Ventilation Tube (TVT), with an embedded video camera at its tip to facilitate easier intubation. The TVT is approved for use by the FDA and also has CE approval. The TVT provides continuous visual control throughout the entire intubation procedure and allows for around-the-clock monitoring of the central airway and tube position. The company also sells the ETView Intubation Trainer, which teaches airway management skills to medical students and personnel.
In other news from ETView, the company will move to its new offices in Haifa this month.
FLEXICATH COMPLETES $750K A ROUND
Flexicath has recently completed a $750,000 investment led by the Zitelman Group, a private equity firm based in Rockville, Maryland. Flexicath has developed a special intravenous (IV) catheter for treatment periods of up to 15 days.
In other news from Flexicath, the company has submitted its first product to the FDA and hopes to begin U.S. sales in early 2007.
GENOVA SIGNS TERM SHEET FOR $260K A ROUND
Genova, developers of an innovative reactor for producing electricity from biomass, has received a commitmentfor a $260,000 investment from NRVision Ltd., an investment company headed by Prof. Roman Bronfman. The company will use the proceeds to produce and install its first pilot unit at a commercial olive press in the Galilee village of Julis.
IMMUNOVATIVE RAISES $700K, SETS SITES ON $5 MILLION RAISE AND CLINICAL TRIALS
Immunovative has raised $700,000 from private investors. The company is in negotiations with several groups regarding the investment of an additional $3-$5 million. In addition, it has an agreement with a California hospital for conducting clinical trials, as well as a contract with U.S. cryoblation leader Endocare Corp. for clinical cooperation. Immunovative intends to begin Phase I/II clinical trials within one year.
Immunovative is developing a proprietary cell therapy product with the potential to dramatically improve the immune system in order to fight disease. It is poised to become a powerful new weapon in the war against cancer.
PERASSIST PURSUES ANIMAL TRIALS
Having completed successful acute trials, PerAssist recently entered into chronic animal trials at Haifa’s Rambam Medical Center. The company’s unique Peri-Boost device improves blood flow to the lower limbs of patients suffering from peripheral vascular disease (PVD) and those who may not be candidates for angioplasty, atherectomy, or bypass.
PRO IV MEDICAL UPDATE
The MTC welcomed Pro IV Medical in November. We’ve recently added their description to our site. Pro IV is developing a smart system for infusions and transfusions. The company's CEO and founder is Dr. Pierre Sharvit.
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Events
JET GUIDE & PRO-IV PRESENT AT TRENDLINES/WOLFBLOCK CONFERENCE
MTC companies JetGuide and ProIV Medical were among the Israeli companies presenting at the 3rd Annual Trendlines/WolfBlock Venture Conference, which was held on December 7 in Philadelphia, Pennsylvania. More than 20 Israeli companies presented to Israel-focused investors, VCs, and others.
JETGUIDE AT CHICAGO DENTAL CONFERENCE
Maura Rosenfeld, JetGuide's business development manager, and André Craft, one of the company's founders, attended the American Association of Oral and Maxillofacial Surgeons (AAOMS) Dental Implant Conference in Chicago at the beginning of December. "The fact that AAOMS devoted the entire conference to the topic of dental implants demonstrates the growing popularity of this procedure," noted Maura. "We were pleased to see that no other
solution for bone drilling guidance was presented. We received very positive feedback on the JetGuide system from participants and presenters."
JetGuide's intraoperative monitoring system complements pre-procedure imaging techniques (CT, MRI, and panoramic x-ray) and advances bone drilling to a higher level throughout the drilling process.
REIMBURSEMENT AS PART OF U.S. MARKET ENTRY STRATEGY FOR MEDICAL DEVICE & LIFE SCIENCES COMPANIES
For life sciences companies, a regulatory strategy is a must. Hear from health care regulatory experts Lynn Shapiro Snyder and Robert Wanerman of Epstein Becker & Green. They will be speaking at a one-day conference in Tel Aviv on January 15, 2007.
©2007 The Misgav Venture Accelerator. All rights reserved
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