Check-Cap, Ltd., a Mount Carmel, Israel-based medical device company focused on the development of gastrointestinal imaging devices, has received an investment from the GE healthymagination Fund.
Check-Cap’s lead product is an endoscopy capsule which utilizes proprietary, low energy X-ray-based measurement technology to safely generate high resolution 3-D imagery of the colon without cleansing or other aggressive bowel preparation. The imaging capsule is being developed to create a reconstructed image of the colon and to detect clinically significant polyps with high degree of sensitivity.
Led by CEO Guy Neev, the company plans to introduce its ingestible imaging capsule in the European Union in late 2013, subject to CE Mark regulatory approval. It is also in discussions with the United States Food & Drug Administration concerning appropriate clinical activities to support approval to market the product in the U.S..
In addition to the investment and as part of a broader collaboration, the company and GE Healthcare have entered into a development and supply agreement where GE Healthcare–Israel will develop, design and produce miniature Cadmium Zinc Telluride (CZT) diagnostic imaging sensors inside each Check-Cap capsule to enable clinicians to obtain full 360-degree imaging as the capsule travels in the colon.
The GE healthymagination Fund is an equity fund that makes investments in highly promising healthcare technology companies. It is part of GE’s $6 billion healthymagination initiative, a global commitment to deliver better healthcare to more people at lower cost.
FinSMEs
01/02/2012