MeMed’s solution enables an informed decision whether to treat antibiotics or not and thus supports the fight against bacterial resistance to antibiotics The investment will be used to accelerate the development of additional products and marketing and global expansion
The Israeli company MeMed announced today (Monday) that it has completed a round of raising $ 93 million, an investment that brings the total investment in the company to over $ 200 million (including grants from the US Army and the European Union). The investment will be used to accelerate the development of additional products for diagnosing the immune system response, manufacturing expansion, commercialization and global expansion.
MeMed, which specializes in diagnosing host-response, has recently received regulatory approval (K510) from the US Food and Drug Administration (FDA) for U.S. marketing of the test.MeMed BV, A test that helps clinicians distinguish between viral infections and bacterial infections, and e– MeMed Key A groundbreaking platform for measuring multiple proteins simultaneously, In a few minutes and with a high level of accuracy. The test has been approved for use in children and adults. MeMed has also developed the COVID-19 Severity test, which is able to predict deterioration in the health of Corona patients, which has been approved for marketing in Europe and Israel.
The raising was led by new investors alongside previous investors, including: Horizon Ventures Fund, Shavit Capital Fund, Caesarea Medical Holdings, Union Tech Ventures, Clal Insurance, Phoenix, Bank Hapoalim, Social Capital Fund, Touchwood Capital Fund, La Maison Partners , WTI and other investors.
MeMed BV Tests a protein signature based on the immune system response, developed and validated over a decade of collaborations with leading academic and commercial partners. It provides physicians with an essential tool for distinguishing between bacterial and viral infections and addressing this key clinical question with a sensitivity and specificity of over 90% (NPV> 98%), regardless of pathogen type, symptom onset, or the presence of harmless microorganisms.
MeMed BV measures and weights using a computational algorithm the levels of three proteins involved in the immune system response: TRAIL, IP-10, and CRP. The test is performed on a serum sample using the MeMed Key® And provides a result within 15 minutes.
MeMed BV has been validated in many international double-blind clinical trials and has been published following peer review in leading journals (including Pediatrics)., The Lancet ID, PLOS One, BMJ Peds, And the European Journal of Clinical Microbiology & Infectious Diseases), as well as data collected from more than 15,000 patients as part of their hospital care routine.
MeMed BV Approved for marketing in Europe (CE Mark) and in Israel (AMR).
“The investment will enable MeMed to accelerate its technological development and expand globally with an emphasis on the US market,” he said. Dr. Eran Aden, CEO and co-founder of MeMed. “We thank investors for the trust and leverage the current investment, combined with the FDA approval we have received, as well as our ever-expanding network of relationships and partnerships, to give patients access to our advanced technologies, along with further development of additional pioneering immune response diagnostic products.
Patrick Zang, Horizon Ventures Projector He added: “We believe that MeMed’s strategy, which includes developing products to decipher the immune system response, is a significant advantage in improving two main areas that occupy modern medicine today: the resistance of bacteria to antibiotics and the effective treatment of corona patients. We welcome the partnership with MeMed – the category leader in this field and are proud to take part in the journey and how it improves the way patients can be diagnosed and treated around the world. ”
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