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Endobetix, founded by Chen Porat and Pierre Shavit in August 2012, is developing a minimally invasive, nonsurgical implant to treat type 2 diabetes and obesity that mimics the hormonal benefits offered by bariatric surgery (reducing the size of the stomach). They will be presenting their company at our investment event on January 28, 2014. We interviewed Chen Porat on what makes Endobetix a company poised to improve the human condition and a worthwhile project to invest in.
How did the idea for your company develop?
We had several conversations on the growing problem of obesity and diabetes, and how this joint disease is becoming the number one problem of the 21st century. The previous company that I managed was in the field of nutrition. Pierre has done postdoctoral studies in the field of hormones. Together our experience, knowledge and curiosity in the field were the right ingredients at the right time. Pierre came across an old paper from 1985, published by an Italian researcher called Manfredini, which describes the effect of bile diversion on rats. This was the starting point for the concept of focusing on bile diversion as a solution for type 2 diabetes.
Why do you personally care about your company’s product?
The company is trying to help a huge (and constantly growing) population, which still has limited treatment options. Both drug treatment and current surgery have their limitations. For a large number of patients, especially for the mildly obese (30<BMI<35), there is no good solution today.
Why should others care about the solution you are developing?
Type 2 diabetes has been described as nothing short of a global epidemic. Everyone should be concerned by the size of this problem and the financial burden it puts on the healthcare system.
What advice do you have for a new entrepreneur with a great idea?
Starting a startup company is like a marathon run, there are no short cuts. Be prepared for lots of ups and downs, disappointments and challenges. Be committed and find good partners that have the patience to come along with you on this long and challenging journey.
As you know, the Trendlines mission is “creating companies that improve the human condition”. How is your company doing this?
We are addressing a huge and constantly growing need, and we are confident that our product will improve the lives of millions of obese people with type 2 diabetes. To hear this company present their technology and to meet the founders, register for our Investment Event. To read about another featured company, see the spotlight on Omeq Medical.