Point of Care test to distinguish between bacterial and viral infection
MeMed has created an immune system based test to differentiate between bacterial and viral infection. The startup has been able to persuade the investors towards making an investment of $70 million.
MeMed, an Hafia based startup was found in 2009 by Eran Eden and Kfir Oved with the vision of personalized diagnostic and major focus on avoiding the misuse of antibiotics. It has been running since the past ten decades with major advancements throughout this while. They have had a thorough research on how 70% of antibiotics that are misused in world class level and hence how they can better use it. The mission of the firm is to turn the complex into easy signals building the confidence of the patients on their physicians via transforming the way they treat infectious and inflammatory diseases at the right place and in right time.
The technology and products of the firm are rigorously being developed on a multinational level encompassing global clinical problems and patients. Their works have been published in high impact scientific and medical journals.
Their platform Immunodxtm is used in EU, Switzerland, and Israel to find out in a rapid manner accurately if the reason behind an infection is bacterial or viral. It interprets in chemical code depending on body immune and the results are 90% accurate. They have been expanding their network of investors and partners internationally renowned academic, commercial and government stakeholders to advance, validate and facilitate the global availability of our platform and tests.
In 50% of the cases, the antibiotics are very easily recommended but they have their own side effects with time and patient sometimes go for their own gut feeling to give in to antibiotics which have proved in health degradation. The firm’s products have made it simpler through the machines to get past the immune for analyzing the root cause and as a result, comes up with a sure shot solution to a disease.
The firm made its announcement on 20th of September on raising the huge fund of $70 million with participation of new and existing investors who are namely PingAn Global Voyager Fund, Foxconn, Caesarea Medical Holdings, Clal Insurance, Phoenix Insurance, OurCrowd, Social Capital, WTI, Horizons Ventures, and high-net-worth executives basically famous for their investments in industry-changing companies.
The firm basically will proceed to advance in 3 areas:
- Market adoption of MeMed BV™: It continues to generate an unprecedented level of clinical evidence validating test performance and had broken the taboo by launching this immune-based test.
- Upscale manufacturing and clearance of MeMed Key™ with complete development: It is a leading protein measuring platform with point-of-care.
- Integrate machine learning and immune-based measurements to tackle big clinical challenges by expanding its pipeline of innovative tests.
The investment has increased the vast clinical challenge and a huge market opportunity that their technology addresses which reflects, in the latest round. They will generate high quality double-blind clinical evidence to validate it after the development of MeMed BV™. MeMed BV™ has the potential to serve as a valuable tool in the fight against resistant bacteria – one of the biggest healthcare challenges of our time when measured on MeMed BV™ and other platforms.
The firm is also receiving additional support from the US government and EU government making the root of the firm solid enough in the field of host-based diagnostics of infectious and inflammatory disorders.
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