Comprehensive coverage

MeMed raised 93 million dollars for the commercialization of the technology to differentiate between diseases from bacteria or viruses

MeMed's solution enables an informed decision on whether to treat with antibiotics or not, thus supporting the fight against bacterial resistance to antibiotics The investment will be used to accelerate the development of additional products and marketing and global expansion

Eran Eden Kafir works for Mi-Med courtesy of Mi-Med
Eran Eden Kafir works for Mi-Med courtesy of Mi-Med

The Israeli company MeMed announces today (Mon) that it has completed a fundraising round of 93 million dollars, an investment that brings the total investments in the company to over 200 million dollars (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, expanding production, commercialization and global expansion.

MeMed, which specializes in the diagnosis of host-response, recently received regulatory approval (K510) from the American Food and Drug Administration (FDA) for the marketing of the test in the USMeMed BV, A test that helps clinicians distinguish between viral and bacterial infections, and of the– MeMed Key A breakthrough platform for measuring a large number of 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 also developed the COVID-19 Severity™ test, capable of predicting the deterioration in the health condition of corona patients, which was approved for marketing in Europe and Israel.

The fundraising was led by new investors alongside previous investors including: Horizon Ventures Fund, Shavit Capital Fund, Caesarea Medical Holdings, Union Tech Ventures, Clal Insurance, Fenix, 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, which was 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 answering this key clinical question with a sensitivity and specificity of over 90% (NPV>98%), regardless of the type of pathogen, the times of onset of symptoms, or the presence of harmless microorganisms.

 MeMed BV measures and weights through a computational algorithm the levels of three proteins that participate 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 studies, and published after peer review in leading journals (including Pediatrics, The Lancet ID, PLOS One, BMJ Peds, and European Journal of Clinical Microbiology & Infectious Diseases), as well as with the help of data collected from more than 15,000 patients as part of their routine treatment at the hospital.

MeMed BV Approved for marketing in Europe (CE Mark) and Israel (AMR).

"The investment will allow MeMed to accelerate its technological development and expand globally with an emphasis on the American market" he said Dr. Eran Adan, CEO and co-founder of MeMed. "We thank the investors for their trust and will leverage the current investment, in combination with the FDA approval we received, as well as our ever-expanding network of connections and partnerships, in order to give patients access to our advanced technologies, alongside the continued development of other pioneering products in the field of diagnosing the immune system's response.

Patrick ZhangFrom the Horizon Ventures Foundation He added: "We believe that MeMed's strategy, which includes the development of products to decipher the immune system's response, is a significant advantage in improving two main areas that occupy modern medicine today: the resistance of bacteria to antibiotics and 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 the way it improves the way in which patients can be diagnosed and treated around the world."

More of the topic in Hayadan:

Leave a Reply

Email will not be published. Required fields are marked *

This site uses Akismat to prevent spam messages. Click here to learn how your response data is processed.