The Israeli startup Dimension is approaching the American market with important FDA approval, and a compact device, which can also detect at the clinic level in the community whether it is a virus or a bacterium.
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The Israeli startup MeMed, which is developing a system capable of differentiating between bacterial and viral infection, announced today (Monday) the completion of a $ 93 million round of funding led by Horizon Ventures and featuring Shavit Capital, Union Tech Ventures, Social Capital, Touchwood, La Maison and several institutional investors. Caesarea Medical Holdings, Clal Insurance, Phoenix, Bank Hapoalim and other investors. The company’s total launches total $ 200 million, including through grants from the United States Army and the European Union.
The $ 93 million question
MeMed’s system, called MeMed BV, can analyze 3 specific proteins that participate in the immune system response in humans: IP-10, TRAIL and CRP. Through this analysis, which also involves the company’s algorithms, the system is able to decide within 15 minutes on the million dollar question: Is it a viral infection or a bacterium?
MeMed’s compact device
This question bothers many quite a few times in their lives. In one case – if you are not yet a parent, just ask a parent about the unbearable experience of taking the little ones to the doctor (even on days when they are repaired) when they have a fever, and the doctor just asks you to give him a painkiller for the next few days to see if he continues to develop symptoms. And only then can antibiotic treatment be started. In the other case, the antibiotic is prescribed to you even though it is a viral infection, which leads to a decrease in its effectiveness; And in the worst cases of all: the doctor prescribes you the wrong antibiotic to fight the wrong bacterium.
The outcome of more or less all of these cases is the same: Bacteria are becoming increasingly resistant to antibiotics, which may lead to the biggest medical crisis of recent centuries. It all stems from the fact that doctors do not have the appropriate tools for diagnosing bacteria. This is where MeMed comes into the picture, which through a simple blood test at your doctor can give him the necessary information within 15 minutes, and allow him to tailor the exact treatment for you.
The company has also developed MeMed Key, which is basically the platform on which the test is performed that is able to measure several proteins simultaneously at the same site where the sample was taken from you, instead of being sent to a central laboratory for too long a process. In addition, the company has introduced a system that is also capable of predicting deterioration in the condition of Corona patients, and is in use in Israel and Europe. In recent months, the company has received the coveted K510 approval from the FDA, which may pave its way to the prestigious US market.
“The investment will enable MeMed to accelerate its technological development and expand globally with an emphasis on the US market,” said Dr. Eran Aden, CEO and co-founder of MeMed. We thank investors for their trust and leverage the current investment, combined with the FDA approval we have received, as well as our 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.
MeMed was founded in 2009 by Dr. Eran Aden (CEO) and Dr. Kfir Oved (VP of Technology), graduates of the Technion and the Weizmann Institute of Science. It currently employs about 120 people, most of them in Israel and some in the United States.
A good old age
Born with a joystick in hand. He has far too many gadgets and far too little free time to play with them all. An unexplained hammer holder for calibrating device batteries. When he’s not busy writing about technology, he likes to talk about it, and a lot
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