Trendlines Medical Q3 2013 Update

Dear Friends of Misgav:

Eran Feldhay

Eran Felhay, CEO, Trendlines Medical

It’s been an intense and action-packed 2013 so far: We took five companies on a U.S. road show in March, and we showcased our projects at Biomed in June. The half-year mark culminated with an extraordinarily exciting win — one of our portfolio companies received  Best Start-Up award. This was the second year in a row a Misgav company took the prize. In addition to our immense pride, the award confirmed our methods for choosing high-quality companies based on our knowledge of the market and experience in the field.

Our wins aside, we’re contemplating recent trends in the Israeli start-up scene, such as:

  • The concern of key opinion leaders in Israel’s high-tech scene, for example, VP of Broadcom, Dr. Shlomo Markel, who recently warned of the danger of an “exit culture” here.
  • The decrease in government funding/support for technology companies and R&D in Israel.

Our opinion on the so-called “exit culture”? We’ve taken a strategic approach to building a diverse portfolio of companies. Some will grow into solid medical device businesses on their own; others through partnerships or exits. In addition to the sectors we’ve focused on in the past, we are also exploring segments we believe are poised for rapid growth in the next few years: rehabilitation, ENT, and medical IT. These initiatives take tremendous knowledge, time, and resources to make it to market and reach fruition.

As for the decrease in government funding: articles published recently in the Israeli media suggest that budget cuts in Israel’s Office of the Chief Scientist will have a significant impact on our operations at Misgav. This is simply not the case. In fact, The Trendlines Group, Misgav’s owner, recently started a NIS 300 million fund to expand its involvement in seed-stage investments in medical technologies to continue to mitigate risk for its investors.

I invite you to contact me with any questions.

Looking forward to an exciting and fruitful second half of 2013!

Best regards,
Eran Feldhay, CEO

Recent Raises

MitrAssist Raises $1 Million

MitrAssist recently completed a $1 million raise to complete its next milestone: transapical chronic studies on animals. Angel investors and a multinational private strategic investor participated in the raise. MitrAssist has developed a minimally invasive approach to treat Mitral Regurgitation (MR).

Latest News from Our Portfolio Companies

Congratulations ApiFix

Congratulations to ApiFix on receiving the Best Start-Up award for the Office of the Chief Scientist ceremony in June. ApiFix is developing a minimally invasive device for the treatment of scoliosis in adolescents. Sol Chip, another Trendlines portfolio company, also received the award. IonMed, a Misgav graduate, was among 14 candidate nominated for the award.

OCS Award

Representatives from Misgav and Trendlines accept the award for ApiFix. Left to right: Steve Rhodes and Todd Dollinger (Chairmen and CEOs, Trendlines), Avi Hasson (The Chief Scientist), Yossi Smoler (Technological Incubators Program Manager), Eran Feldhay (CEO, Misgav Venture Accelerator). Not pictured: Uri Arnin (CEO, Apifix

Inspiro Medical Completes Successful Clinical Trial

Inspiro recently completed a successful FIM study for Inspiromatic, its innovative, breath-synchronized, active dry powder inhaler.  Nimrod Kaufmann, Inspiro’s CEO, presented the study results at Biomed in June, which sparked interest from the media. Inspiro is currently opening an investment round to continue with device development and partnering activities.

Events in Israel and Abroad

Medical U.S. Road Show in October

We’re gearing up to take four medical companies on a U.S. road show to five cities in October. Following a successful $880,000 raise through OurCrowd in April, we are partnering with them for this event. The CEOs from CoreBone, Gordian Surgical, ProArc Medical, and SensoGo, and have started working on their pitches to investors.

Professional Leadership in Local High-Tech 

In addition to supporting our portfolio companies, our management team members are involved in community educational initiatives and are highly regarded for their contributions. For instance, Omer Schalit Cohen, Misgav’s VP Business Development, continues as a professional mentor of the Medinnovation, a course co-sponsored by Misgav and Tel Aviv University’s Entrepreneurship Center. Edit Goldberg, Misgav’s VP New Ventures, sat on the BizTEC Entrepreneurship Challenge judging panel earlier this year. This is an annual competition open to all Israeli students who want to develop a technological idea to the next stage.

Misgav and Trendlines at Biomed 2013

Once again, this year’s Biomed gave Misgav an opportunity to showcase its companies and inventions. A number of company CEOs presented and some were on hand at the booth to demonstrate their product. Todd Dollinger, Chairman and CEO of The Trendlines Group, addressed a packed session on “Early-Stage Investment in Israeli Medical Device Companies – Risk or Opportunity?”

See more pictures from Biomed 2013.

Welcome Aboard

Omeq Medical is developing a unique sensor-based system to assist physicians for safe, accurate epidural injections. The system will provide needle placement guidance and send automatic alerts in the event the needle penetrates the epidural space. Omeq’s CEO is Lior Margalit and VP R&D is Oded Tsamir.

 

We are always looking for new life science investment opportunities to bring to Misgav. If you have an idea, or know someone who does, contact Edit Goldberg. We look forward to hearing from you!

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