• Financing led by life sciences venture capital firm Forbion, alongside existing investors Syncona and Oxford Science Enterprises, as well as new investors TCGX and Advent Life Sciences
• Round will accelerate the development of lead asset AGTC-501 and broader pipeline
• Beacon appoints Dmitrij Hristodorov, Wouter Joustra, and Cariad Chester to Board of Directors; Dominic Schmidt joins as a Board Observer

LONDON and CAMBRIDGE, Mass., July 3, 2024 — Beacon Therapeutics Holdings Limited (‘Beacon Therapeutics’ or ‘the Company’), a leading ophthalmic gene therapy company with a mission to save and restore the vision of patients with blinding retinal diseases, today announced it has raised $170 million in Series B funding.

Forbion led the financing, which included existing investors Syncona Limited, Oxford Science Enterprises and the University of Oxford, as well as initial investments from TCGX and Advent Life Sciences. The funds will be used to support the continued clinical development of Beacon’s lead asset, AGTC-501 for X-Linked Retinitis Pigmentosa (XLRP) and generate Phase 1/2 clinical trial data for the Company’s Dry Age-related Macular Degeneration (dAMD) program.

Beacon Therapeutics also appointed Dmitrij Hristodorov and Wouter Joustra, General Partners of Forbion, and Cariad Chester, Managing Partner of TCGX, to its Board of Directors. Dominic Schmidt, General Partner of Advent Life Sciences, joins as a Board Observer.

Beacon is focused on both orphan and prevalent diseases, including XLRP, a blinding orphan disease for which there is no available treatment, as well as dAMD. AGTC-501, the Company’s lead asset, is currently in a registrational clinical trial for the treatment of XLRP. AGTC-501 expresses the full length RPGR protein, thereby addressing all photoreceptor damage caused by XLRP, including both rod and cone loss.

David Fellows, Chief Executive Officer of Beacon Therapeutics, said, “We are focused on progressing our pipeline of ophthalmic gene therapies to save and restore the vision of patients with a range of prevalent and rare retinal diseases that result in blindness. I am confident that along with the addition of Dmitrij Hristodorov, Wouter Joustra and Cariad Chester to the Beacon Board, these funds will support the ongoing development of our late-stage and pre-clinical pipeline and enable acceleration of the development of AGTC-501 as we progress through the clinic and toward commercialization.”

“Forbion is pleased to support Beacon Therapeutics at this critical juncture in the development of its pipeline of pioneering ophthalmic gene therapies. Beacon’s deep expertise and renowned management bench give us confidence in the plan to build a leading retinal gene therapy company,” shared Dmitrij Hristodorov, General Partner at Forbion.

Elisa Petris, Lead Partner at Syncona Investment Management Limited and Board Director of Beacon Therapeutics, said, “Syncona’s continued backing of Beacon Therapeutics is a testament to the Company’s proven leadership team and innovative approach to developing gene therapies for retinal diseases. This financing and the partnership of this high-quality syndicate will propel Beacon’s pipeline and enable the Company to advance its programs for both rare and prevalent ophthalmic diseases.”

Beacon has raised approximately $290 million in funding to date. This funding round follows several clinical milestones for the company, including the first patient dosed in the VISTA registrational trial for AGTC-501, the initiation of the Phase II DAWN trial and the presentation of positive 12-month interim results of the Phase 2 SKYLINE trial at the 47^th Annual Macula Society Meeting demonstrating the precision, effectiveness and safety of Beacon’s therapeutic interventions.

J.P. Morgan acted as sole placement agent to Beacon Therapeutics for this transaction.

About Beacon Therapeutics
Beacon Therapeutics is an ophthalmic gene therapy company founded in 2023 to save and restore the vision of patients with a range of prevalent and rare retinal diseases that result in blindness.

The Company has an established scientific foundation that combines a late-stage development candidate to treat X-linked retinitis pigmentosa (XLRP), as well as two preclinical programs, one targeting dry age-related macular degeneration (AMD) and another targeting cone-rod dystrophy (CRD), an inherited retinal disease.

Lead development candidate AGTC-501, is a gene therapy program currently being investigated for the treatment of XLRP, an inherited monogenic recessive disorder that causes progressive vision loss in boys and young men. XLRP is predominantly caused by mutations in the retinitis pigmentosa GTPase regulator (RPGR) gene. AGTC-501 expresses the full length RPGR protein, thereby addressing the full complement of photoreceptor damage caused by XLRP, including both rod and cone loss.

Beacon Therapeutics also has access to a target generation technology platform that will identify, screen, and search secreted proteins in the ophthalmology space.

Find out more about Beacon Therapeutics at beacontx.com.

Contact:
[email protected]

Media:
[email protected]

SOURCE Beacon Therapeutics

The round is led by Danish VC Dreamcraft, together with biotech investor Lundbeckfonden BioCapital and the private investment company 2degrees.

COPENHAGEN, Denmark, July 3, 2024 — Kvantify, a leading quantum software start-up, has announced the successful closure of a EUR 10 million seed round. This funding will enable Kvantify to strengthen its position as a global leader in quantum computing, with an initial focus on developing applications for the life science sector.

The investment will accelerate the development of Kvantify’s innovative solutions that aim to leverage quantum computing to address complex problems in drug discovery and beyond. It will also boost the further development of quantum algorithms for chemical simulation, expanding their applicability across various industries.

The seed round is notable not only for its substantial size but also for the strategic match of the new investors to Kvantify’s mission. It is led by Danish VC Dreamcraft, together with biotech investor Lundbeckfonden BioCapital and the private investment company 2degrees. Other notable investors include international sector-focused tech investor Redstone VC, Danish lead quantum VC 2xN as well as EIFO.

Lundbeckfonden BioCapital is a large Danish investor focused on local life science companies, supporting the translation and commercialization of ground-breaking science. This is Lundbeckfonden BioCapital’s first investment outside the therapeutics space.

“With our investment in Kvantify, we are broadening our footprint in and commitment to further strengthening the Danish life science ecosystem. Quantum computing can deliver accuracy and derisking to the early stages of drug development to a level not possible with classical computers, thereby enabling faster speed to market. We are therefore excited about this opportunity and look forward to working with the Kvantify team to bridge quantum computing and drug development to the future benefit of patients,” said Jacob Falck Hansen, Partner at Lundbeckfonden BioCapital.

Danish VC Dreamcraft invests in tech-driven companies, from pre-seed to series A, and has a proven track record with B2B SaaS software.

“We’re thrilled to partner with the team at Kvantify as they take a significant step forward in their mission to fulfill the promise of industrial applications of quantum computers. The potential of quantum chemical computational drug discovery is massive and represents a truly exciting beachhead market. We cannot wait to see how Kvantify will help solve today’s seemingly impossible problems and serve as a crucial tool in designing the solutions of the future.” – Carsten Salling, General Partner at Dreamcraft

Redstone QAI Quantum Fund is a highly specialized venture capital fund that focuses on investing in groundbreaking technologies within the quantum technologies sector.

“Kvantify’s focus on applying quantum computing to life sciences and further industrial use cases across various sectors aligns with our strategic vision of advancing practical and impactful quantum solutions. With their interdisciplinary team, in-depth knowledge of quantum technology, and innovative approach to enhancing computational efficiency, Kvantify is perfectly placed to bring tremendous value to commercial markets.” – Marco Stutz, Partner at Redstone.

In light of their successful product launch for a groundbreaking drug discovery tool, Hans Henrik Knudsen, CEO of Kvantify, comments:

“On behalf of the founding team, we are incredibly excited about the completion of our €10 million seed round, which marks a significant milestone for Kvantify. This funding not only validates our vision of leveraging quantum computing to revolutionize the life sciences industry but also provides us with the resources and strategic partnerships needed to accelerate our development and growth. With the support of new and existing investors, we are well-positioned to continue to bring groundbreaking solutions to market.”

About Kvantify
Kvantify is a pioneering quantum software company based in Denmark. The company leverages quantum and high-performance computing to create revolutionizing solutions for complex scientific and industrial challenges. Kvantify’s mission is to make quantum computing technology widely accessible, and a valuable tool for businesses worldwide. For more information, please visit (www.kvantify.com).

Additional questions
Klaus Eriksen, Communications Officer, Kvantify. Phone: (+45) 61 699 700. Email: [email protected]

Photo – https://mma.prnewswire.com/media/2452960/Kvantify_founders.jpg
Logo – https://mma.prnewswire.com/media/2452959/Kvantify_Logo.jpg

SOURCE Kvantify ApS

HOD HASHARON, Israel and LUXEMBOURG, July 3, 2024 — TIGI (TASE: TIGI), a provider of renewable heat generation and storage solutions and services with offices in Israel and Austria, is pleased to announce that it has entered into a partnership with Eren Groupe, a leading global player in energy transition. Eren will participate in a fundraising round to become a minority shareholder of TIGI and boost its growth. Furthermore, the two companies will set up dedicated platforms for developing, financing, and operating renewable heat projects via an innovative Heat-as-a-Service model, making clean energy accessible and affordable for industries globally. Up to 40M Euros will be made available for equity financing of projects providing capacity to finance projects valued at 100M Euros.

As the energy market transitions from natural gas to renewable energy, the heat sector has become a focal point, representing a large share of global energy demand. Recent developments, particularly in the wake of the war in Ukraine, have triggered an increased drive for transition away from fossil fuels. 

TIGI has recently completed the acquisition of Austrian-based SOLID, a leader in large-scale solar thermal heating systems. TIGI and SOLID installed over 250 systems in over 30 countries and cater to a variety of industries and geographies. Finalizing the agreement with Eren, a pioneer of renewable energies in Europe, creates a combined global partnership that spans technology leadership, global execution, and strong financial capacity. 

“We are pleased to be partnering with TIGI to jointly form a first-of-its-kind renewable heat project platform,” commented Yonatan Shek, Managing Director of Eren Groupe. “We believe that large-scale renewable thermal energy presents a considerable global opportunity that was previously underserved but has recently gained momentum. I believe that by joining all three companies’ expertise, technology, and know-how, we set the premise for the next important step of our journey to facilitate the energy transition and a route for further decarbonization.”

Zvika Klier, CEO of TIGI, states, “This marks the dawn of a pivotal journey for TIGI. We are excited to join forces with Eren to provide a platform for Heat-as-a-Service projects. This collaboration and the recent announcement with SOLID take us one step closer to being a renewable heat powerhouse, offering end-to-end solutions globally. With a tightly focused international team and projects spanning multiple continents, TIGI is set to make a significant impact on the global transition to clean energy.”

About TIGI

TIGI develops renewable heat generation and storage solutions and services, generating savings and reducing environmental impact. It supplies efficient systems that include its own patented and highly efficient solar thermal collectors, industrial heat pumps, smart storage, and cloud services. For more information, please visit www.tigisolar.com

About Eren Groupe

Over the past 20 years, Pâris Mouratoglou, David Corchia and their teams have significantly contributed to the expansion of new and renewable energy sources. They have executed projects with a combined capacity of more than 15 GW through ambitious and successful partnerships forged with major energy companies, notably EDF and TotalEnergies, as well as local businesses and entrepreneurs in over 40 countries. In recent years, Eren has been broadening the scope of its ambitions to become a key player in the energy transition and decarbonization. For more information: www.eren-groupe.com

For media inquiries, please contact:

TIGI
Noa Rozental
[email protected]

Eren Groupe
Brunswick Group
Sarah Levy-Quentin
[email protected]

• Dynata to fully emerge from the Chapter 11 Process in the coming days, eliminating 40% of its total debt
• Dynata to receive $50 million in exit financing – New Equity Owners have provided $81.5 million in total financing
• Dynata boasts an unrivalled approach to delivering the highest quality, reliable, accurate consumer insights data worldwide
• Dynata’s plan was court approved without the need for a formal confirmation hearing – which is a strong endorsement of the Company’s emergence plan

SHELTON, Conn., July 2, 2024 — Dynata, LLC (“Dynata” or the “Company”), the most trusted source for reliable, accurate first-party data —announced today that the U.S. Bankruptcy Court for the District of Delaware has confirmed the Company’s Financial Restructuring Plan. The confirmation hearing comes approximately five weeks after the Company’s prepackaged Chapter 11 filing.

Mike Petrullo, Chief Executive Officer of Dynata said, “I am delighted that we have achieved this significant milestone, marking another stride towards advancing our business transformation. I deeply appreciate the steadfast support of our lenders which has enabled us to achieve this outcome on an expedited basis. I am thankful to the Dynata team who have committed themselves to building a best-in-class brand and to all of our loyal clients. Looking ahead, we are eager to commence the second half of the year with a strengthened balance sheet, and an unrelenting focus on delivering the highest-quality, reliable, accurate consumer insights data and services for our clients.”

Dynata is renowned for having an unmatched commitment to data quality. In May, Dynata achieved further recognition by winning the overall 2024 I-COM Global Data Creativity Awards, securing first place in the Data Quality category.

Under the approved plan, Dynata reduced almost 40% of its total debt from approximately $1.3 billion to $780 million in exchange for the first and second lien holders to own 100% of the equity in the newly reorganized Company.

Willkie Farr & Gallagher LLP is serving as Dynata’s legal advisor in connection with the restructuring. Alvarez & Marsal North America, LLC serves as its restructuring advisor and Houlihan Lokey, Inc. serves as its investment banker.

Gibson, Dunn & Crutcher LLP is serving as lead counsel and PJT Partners LP is serving as investment banker to an ad hoc group of controlling first lien lenders in connection with the restructuring.

Vinson & Elkins LLP is serving as lead counsel and Lazard is serving as investment banker to an ad hoc group of controlling second lien lenders in connection with the restructuring.

About Dynata
Dynata is the world’s largest first-party data company for insights, activation and measurement. With a reach that encompasses 70 million consumers and business professionals globally, and an extensive library of individual profile attributes collected through surveys, Dynata is the cornerstone for precise, trustworthy quality data. The Company has built innovative data services and solutions around its robust first-party data offering to bring the voice of the customer to the entire marketing continuum — from uncovering insights to activating campaigns and measuring cross-channel marketing return on investment. Dynata serves more than 6,000 market research, media and advertising agencies, publishers, consulting and investment firms and corporate customers in North America, South America, Europe and Asia-Pacific. Learn more at www.dynata.com. 

SOURCE Dynata

SINGAPORE, July 2, 2024 — In support of a more efficient and user-friendly DeFi market, HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in RedStone. RedStone is one of the fastest-growing modular oracles in 2024 that delivers diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, including Starknet, Fuel Network, and TON.

RedStone’s modular nature enables it to provide data feeds that are unavailable elsewhere, specializing in yield-bearing collateral for lending markets, especially LSTs and LRTs. Its modular pricing engine ensures the highest accuracy and relevance by consistently updating. Moreover, RedStone is chain-agnostic, meaning it can push data to numerous EVM and non-EVM ecosystems, rollups, and various app chains. This makes it an ideal partner for Rollup-as-a-Service providers and Eigenlayer AVSes. Currently, RedStone’s Total Value Secured (TVS) has grown to $4 billion, expanded to over 60 chains, and served more than 100 clients such as EtherFi, Pendle, Morpho and Ethena.

RedStone recently closed its $15 million Series A round, led by Arrington Capital. The funds will be used to expand the Marketing and Business Development divisions, fueling an extensive Q3/Q4 growth pipeline. RedStone is currently testing Oracle Extractable Value (OEV) implementation, scheduled for trial with customers in the coming months, and preparing for the launch of its native token later this year.

“RedStone is introducing an exciting advancement to DeFi with its modular design,” said Edward, Managing Partner at HTX Ventures. “DeFi users will benefit from new and precise data feeds, as well as push and pull data services. RedStone’s chain-agnostic feature allows it to provide services across various layers. At HTX Ventures, we are thrilled to witness new innovations within the oracle space and are eager to collaborate on building better infrastructure and tools for DeFi.”

Jakub Wojciechowski, CEO of RedStone Oracles, commented, “This Series A round gives us ample financial runway to broaden our suite of services while bringing reliable real-world data to a host of blockchain-based protocols. Sincere thanks to our investors and community for their fervent support, and believe me when I say – we are just getting started.”

RedStone is also preparing for the upcoming launch of Season 2 of RedStone Expedition – an interactive community engagement initiative giving participants the chance to accumulate RSG (RedStone Gems) points through a diverse array of activities. Interested parties can sign up here: RedStone Expedition.

About RedStone

RedStone is a modular oracle delivering diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, i.e., Starknet, Fuel Network, or TON. By responding to market trends and developer needs, RedStone can support assets not available elsewhere. The modular design allows for data consumption models adjusted to specific use cases, i.e., capital-efficient LSTfi and early support of LRTs. Trusted by Pendle, Morpho, Venus, Ethena, ether.fi & more.

About HTX Ventures:

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including Dragonfly, Bankless, Gitcoin, Figment, and Animoca. Visit us here.

Contact Details
EE
[email protected]

Company Website
https://www.htx.com/ventures 

SOURCE HTX

BOISE, Idaho, July 2, 2024 — BoldHue, the female-founded technology company revolutionizing the beauty-tech industry with its personalized foundation device, has successfully closed an oversubscribed seed round, raising nearly $5.2 million in funding to date. The round was led by Lucas Venture Group with participation from Capital Eleven, Backstage Capital, Tacoma Ventures, Mark Cuban, and Kevin Huvane.

Founded in 2020 by two-time entrepreneur Rachel Wilson and published scientist and former aerospace engineer for Raytheon, Karin Layton, BoldHue is poised to disrupt the beauty-tech industry. The funding milestone will allow the innovative and patented device, which dispenses a perfectly matched shade in minutes and has been dubbed the “Keurig for makeup” to begin shipping its first 10,000 units this fall to an eager waitlist of over 40,000. 

BoldHue is proud to be a female-founded company, drawing a meaningful parallel with Lucas Venture Group, a venture capital firm recognized for backing female entrepreneurs under the guidance of Managing Partner Sarah Lucas. “Supporting these trailblazing women from day one has been an absolute pleasure. Rachel and Karin have engineered the most elegant solution the beauty-tech industry has ever seen, setting a new standard for innovation and excellence. The ‘wow’ moment when people realize their perfect match foundation is delivered instantly is incredible!” said Lucas.

BoldHue initially raised nearly $2M between the company’s friends and family and pre-seed rounds, and this $3.37 million seed fundraise marks their first priced round. The newly raised capital will allow the company to ship their first round of kits, officially onboard their first round of key executive hires, and support marketing initiatives  — including a nationwide roadshow. The BoldHue ‘BoldCrew’ street team will visit major metropolitan areas to introduce their cutting-edge technology and product from coast to coast, focusing on building community ahead of the market launch.

“We’re incredibly grateful for the overwhelming support from our investors who share our vision for revolutionizing the beauty-tech industry. This funding milestone not only validates our technology but propels us forward in our mission to launch our personalized foundation device to all consumers and makeup enthusiasts alike. We are thrilled to be able to embark on the next phase of BoldHue’s journey,” said Rachel Wilson, Co-Founder and CEO of BoldHue.

About BoldHue:
BoldHue is a Boise-based technology company with a beauty vertical, known for its groundbreaking device that formulates foundation on-demand in the comfort of your home. Founded in 2020 by Rachel Wilson and Karin Layton, BoldHue aims to revolutionize the beauty industry by providing personalized and convenient beauty solutions.
www.boldhue.com 

SOURCE BoldHue

Prodia’s Web3 Infrastructure Powers AI Media Inference Solutions with Unmatched Low Latency and Cost Efficiency

ATLANTA, July 2, 2024 — Prodia, the leading distributed network of GPUs for AI inference solutions, today announced it raised a $15M seed round led by Dragonfly Capital to build more scalable, affordable AI solutions powered by Web3. Investment firms HashKey, Web3.com, Index Ventures, Symbolic Capital, OKX Ventures, EV3, Artichoke, TRGC, Folius, Tangent Capital, Southern Equity, Balaji Srinivasan, Sandeep Nailwal (founder of Polygon), Matthew Roszak, Jeremy Voss (Director of Gen AI at Meta), Amit Vasudev (founder of Clearbit), Thomas France founder of Ledger, Leon Marshall (CEO of Galaxy Europe), Nicolas Pinto, Kenzi Wang, Jermaine Brown and others.

Demand for high-performance computing is outpacing today’s centralized infrastructure’s ability to provide affordable, scalable solutions. Prodia helps solve this critical problem through its pioneering use of distributed, Web3 infrastructure. By leveraging a distributed network of GPUs, Prodia is uniquely positioned to offer both higher performance and lower costs compared to traditional cloud services. This approach not only taps into the unused computing power across the globe, but also democratizes access to state-of-the-art AI technologies.

This architectural choice is not merely optimal — it is essential since it provides the structural foundation that makes Prodia’s high-performance, low-cost AI inference solutions possible. This transformative approach marks a significant departure from conventional methods, positioning Prodia at the forefront of the next wave of AI infrastructure development.

Prodia was founded by Monty Anderson, Mikhail Avady, and Shawn Wilkinson – previously the founder of the world’s largest decentralized cloud storage company, Storj. With a vision of making AI more accessible, they built the most efficient compute engine in the world for AI via their distributed cloud. With a simple API, developers can integrate the latest models into their app within hours.

“Every single software company will have a generative AI component to their app in some form,” said Shawn Wilkinson, CEO of Prodia. “We have made it so easy to add AI into any application that our customers don’t even need to know what a GPU is. This is what sets us apart and why the top AI generation companies choose Prodia over the nightmare of fighting for machines on AWS or self hosting,” added Mikhail Avady, co-founder of Prodia.

The new financing will fuel the next phase of the company’s growth, including expansion into generative video and support for more LLMs. In addition, the funding will be used to help with expanding the Prodia network to support more types of GPU hardware and more types of providers.

“We believe Prodia sits at the vanguard of the generative AI transformation. Their API has bleeding-edge inference capabilities and we are thrilled to see their progress in making high-performance inference available for all,” said Anirudh Pai, Partner at Dragonfly.

Prodia also recently launched their new low latency API for enterprise customers, reaching best in class inference speeds in the world.

“Using tech like JWTs, gossip protocols, and connection pooling, we’ve built the fastest inference orchestration tool. It acts as a distributed system to deliver high efficiency and availability with minimal latency,” said Monty Anderson, co-founder of Prodia.

Prodia Resources:

About Prodia
Prodia is a distributed GPU cloud specifically designed for AI inference. Delivering high-performance cloud services, Prodia reduces costs by 50% – 90% and accelerates generation speeds, all while providing an easy-to-use Rest API for effortless integration. Powering the largest media generators, Prodia leads the way in being the best solution for applications at scale. For more information, visit https://prodia.com/. 

About Dragonfly Capital
Dragonfly is a global crypto venture capital and research firm. The firm invests in seed, venture, and growth-stage companies across the entire crypto ecosystem, including DeFi, CeFi, infrastructure, L1 and L2s, NFTs, creator/consumer and GambleFi sectors. Dragonfly leverages its global market knowledge, global empirical research, and diversity of financial, technical and operations experts to empower the most innovative crypto companies with the strategies, relationships, and tools for lasting success. Founded in 2018 and operating in 12 countries, Dragonfly has about $2.5B AUM.

For more information, visit https://www.dragonfly.xyz/ 

SOURCE Prodia

NEW YORK, July 2, 2024 — Two Roads Partners LLC (“Two Roads Partners”) today announced the final closing of Two Roads Partners Fund I and related entities (“Fund I”) at $400 million.

Lincoln International Private Funds Advisory served as placement agent. Kirkland & Ellis, LLP served as fund counsel.

For more information, please visit: www.tworoads.com

SOURCE Two Roads Partners

NEW YORK, July 2, 2024 — Alpha Capital Anstalt, a prominent investor known for its successful ventures in the United States and globally, has finalized the acquisition of all operating assets and IP of ENvizion Medical Ltd., including ENvizion Medical Inc., based in Arlington Heights, Illinois, USA.

Following this transaction, ENvizion Medical Inc. will operate as a privately held entity, independent from its former parent company, ENvizion Medical Ltd., which was previously publicly traded on the Tel Aviv Stock Exchange.

ENvizion Medical Inc. specializes in the enteral feeding tube navigation market, addressing challenges associated with blind insertions and radiography-based methods. The company has developed a revolutionary feeding tube navigation system designed for precise placement in adult patients.

The FDA 510(k)-cleared ENvue system comprises an electro-mechanical device integrated with software and enteral feeding tubes. Utilizing electromagnetic technology, the device creates personalized body maps of patients, enabling precise tube placement in the stomach or small intestine via oral or nasoenteric routes.

“Unlike competing products, the unique ENvue system provides simultaneous frontal, lateral, and axial views of actual patient body contours, offering real-time visualization and directional guidance of the enteral feeding tube,” explained Dr. Doron Besser, CEO of all ENvizion entities. “This enhances healthcare provider confidence during tube insertion, reducing the risk of lung placement and associated complications.”

The ENvue system’s innovative electromagnetic tracking technology reduces tube placement procedure times by half compared to current market offerings. This speed is crucial for promptly initiating feeding in critically ill and malnourished ICU patients, eliminating the need for repetitive X-ray confirmations, and lowering radiation exposure and healthcare costs.

ENvizion products are already widely adopted in numerous hospitals across the United States, demonstrating their growing acceptance and integration within the medical community.

Enteral feeding plays a vital role in providing essential nutrition to hospitalized patients unable to tolerate standard food intake methods. Dr. Besser emphasized, “The pioneering ENvue system ensures safe and swift feeding tube placement, contributing to improved outcomes for critically ill patients.”

“I am confident that this transaction, supported by our strong management team, will position the company to continue delivering compelling benefits for clinicians, patients, and customers going forward,” added Dr. Besser.

About ENvizion Medical Inc:

ENvizion Medical is a privately held company headquartered in Arlington Heights, Illinois, USA. The company focuses on preventing malnutrition and reducing tube feeding complications, leading to lower healthcare costs and the acceleration of patient recovery.

CONTACT INFORMATION:
ENvizion Medical Inc.
Doron Besser
[email protected]

SOURCE ENvizion Medical Inc.