Lipid molecule developer High Tech Lipids (HTL) has signed a cooperation agreement with European pharmaceutical company Chiesi Group, to support the development, regulatory procedure and commercialization of HTL’s first product, an innovative lipid emulsion optimized for intravenous feeding of preterm neonates.

HTL has developed an innovative emulsion that is optimized for intravenous feeding. The emulsion is based on a new model of engineered triglycerides and a unique profile of fatty acids. The company is currently making preparations to begin pre-clinical testing. The market potential for HTL products in infants and adults is about $2 billion worldwide.

”The agreement with HTL is a strategic choice for the development of our neonatology portfolio,” stated Dr. Paolo Chiesi, Chiesi Group Vice President and R&D Director. “We are confident that, once fully developed and registered, this innovative lipid emulsion will significantly contribute to the improvement of clinical nutrition of preterm newborns. The deal with HTL confirms the Chiesi Group’s commitment to developing new therapeutic solutions for rare diseases”.

HTL, which started with Misgav Venture Accelerator, has developed a new lipid molecule that is an advanced solution to the problem of intravenous lipid infusions. It will prevent severe side effects and meet all of the premature infant’s nutritional needs. HTL was founded in 2004 by Dr. Geila Rozen and Irit Shochat, together with Dr. Sobhi Basheer, an internationally renowned chemist specialising in enzymatic processing of lipids.

The Chiesi Group is a research-focused international company developing added-value innovative pharmaceutical solutions to improve the quality of human life. Founded in Parma in 1935, Chiesi today operates globally through 23 direct affiliates, 3 manufacturing sites and 4 research laboratories (in Italy, France, the UK and the US).

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Medical diagnostic tests developer Molecular Detection Inc. (MDI) has raised $3.3 million in a third financing round led by MentorTech Ventures and included new investors Ben Franklin Technology Partners, Robin Hood Ventures and the Mid-Atlantic Angel Group Fund (MAG). MDI has previously been funded by the SVM-Israel Opportunity Fund and the Chief Scientist Office of the Israeli Ministry of Industry and Trade.

MDI is preparing to launch its first product, the Detect-Ready assay for the rapid detection of methicillin-resistant Staphylococcus aureus (MRSA), a growing worldwide problem that results in serious illness and death while increasing hospital costs. This funding will provide the company with the resources needed to launch its MRSA assay in Europe and the U.S. while also expanding its pipeline of molecular diagnostic tests.

The company also announced that Todd M. Wallach has been named chief executive officer. Prior to MDI, Mr. Wallach was CFO of specialty pharmaceutical company Aton Pharma. He was previously vice president of finance and operations of Acuity Pharmaceuticals, which was acquired by publicly traded OPKO Health.

“This Series C financing represents a major milestone for MDI, confirming the promise of our innovative molecular diagnostic technologies and our soon-to-be-launched assay for MRSA screening,” said Wallach. “The Detect-Ready MRSA assay offers healthcare providers a high-performance diagnostic with an unmatched combination of accuracy, speed, flexibility and cost-effectiveness, addressing a market that is expected to exceed $1 billion in annual revenues in the next few years.”

MDI is developing and commercializing a portfolio of “sample-to-answer” Detect-Ready molecular diagnostic tests for the detection of infectious diseases. The company’s first product is a ready-to-use rapid detection DNA-probe screening test for MRSA. The Detect-Ready MRSA test provides increased accuracy, faster time to results and more efficient utilization of hospital resources compared to other MRSA diagnostic products. MDI was founded in 2007 and is headquartered in Wayne, PA. It has research operations and manufacturing facility in Jerusalem, Israel.

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Insulin delivery device startup Medingo is planning to launch its Solo micro pump insulin delivery system in the US diabetes market in the next few months, after it has got a formal clearance from the Food and Drug Administration (FDA) to market its innovative medical device in the American market.

Medingo will also present the Solo system at the American Association of Diabetes Educators Meeting which will take place in August 2009 in Atlanta, USA.

“We are very excited to have received FDA clearance for Medingo’s innovative, miniature, tube-free, insulin delivery system,” commented Arie Mientkavich, Chairman of Medingo. “This is a major milestone for Medingo, which will enable it to progress to the next phase in its development. Medingo is currently considering alternatives for its go-to-market strategy and the timing of the product launch.”

Medingo caters specifically to the needs of insulin-dependent diabetic patients. The company develops a miniature insulin patch pump that uses no tubes, is discreet and simple to use. The insulin patch can be placed under clothing on any desired part of the body without interfering with the patient’s daily activities. The device is comprised of two main units: A miniature patch pump, and a remote control unit, which allows patients to program the system and deliver insulin remotely.

In addition to insulin delivery, Medingo devices serve as platforms for other applications, including pain control and glucose sensing. Medingo’s core technology is based on research and development of Rafael, the principal research and development entity of the Israeli Ministry of Defense.

Medingo, a 50% Elron Electronic Industries company, is headquartered in Yoqneam, Israel. On November 2007, the company has completed financing round of approximately $27 million, jointly led by Elron and Radius Ventures.

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Medical and aesthetic laser devices provider Lumenis has completed $15 million equity financing. Agate Medical Investments, a new investor, led the round with $5 million investment, together with two existing shareholders LM Partners LP and Ofer Hi-Tech.

The company also completed a restructuring of its bank debt allowing for a convenient loan repayment plan spread over 8 years until 2017.

“These additional cash resources will facilitate our investment in the future of our business, including potential strategic investments, acquisitions and other initiatives enabling us to maintain and enhance our leading industry position in all the markets in which we serve,” said Lumenis’ Chief Executive Officer, Dov Ofer.

Lumenis, a provider of laser, light-based and radio-frequency devices for surgical, aesthetic and ophthalmic applications, is Israel’s largest medical device company with more than 700 employees worldwide. The company Headquarters and R&D center are located in Yokneam, Israel.

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Compression therapy products provider C-Boot has released a new mobile Intermittent Pneumatic Compression (IPC) Device. The C-Boot Elastic model enhances the effectiveness of C-Boot in treating Chronic Venous Insufficiency (CVI), venous ulcers, Lymphedema, and other conditions that require compression therapy, including the enhancement of blood circulation during recovery from coronary artery bypass graft surgery and orthopedic hip and knee replacements.

“The new C-Boot Elastic is an important step in our strategy to become a leading, manufacturer of innovative wearable compression devices,” said Ronen Castro, C-Boot CEO. “One of the enhancements we made to the Elastic model is in the foot portion of the C-Boot. The Foot portion is now designed ergonomically as elastic sock and is perfectly fitted with any size of foot or width. These changes have made C-Boot Elastic very easy to wear with almost every regular shoe and provide better comfort to the patient.”

C-Boot develops and manufactures advanced compression therapy products powered automatically by energy generated from the patient’s body. C-Boot products are mainly prescribed by dermatologists, orthopedics, wound-care experts, physiotherapists, cardiac and vascular experts for treating various of medical conditions, like, DVT prevention, Ulcers and Lymphedema.

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Biosurgery products development startup LifeBond has raised $8 million in a second financing round led by Pitango Venture Capital and Robert Taub, founder and former CEO of Omrix Biopharmaceuticals, which recently acquired by Johnson & Johnson for $438 million. Existing investors: GlenRock Israel, Leon Recanati’s investment company, and Zitelman Group, also participating in this round.

LifeBond is developing surgical sealants and hemostats intended for preventing leakage and bleeding. Proceeds from the round will be used for the completion of the pre-clinical and clinical phases of the Company’s initial product: LifeSeal SLR, a sealant indicated for reinforcement of gastro-intestinal anastomoses. The company anticipates that LifeSeal SLR will reach the market in 2011, pending regulatory approval in the U.S., Europe and Israel.

LifeBond was founded in 2007 by Ishay Attar, the current LifeBond CEO, Orahn Preiss-Bloom, LifeBond VP Operations, and Nir Mashkif. The company received seed funding from the Trendlines Israel Fund, followed by a $1.5 million round A financing round led by GlenRock Israel. The Company’s headquarters and research center are located in Caesarea Industrial Park.

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The NYU Comprehensive Epilepsy Center (CEC), the largest epilepsy center in the United States, announced a test and evaluation program of an epilepsy alert device at the NYC CEC facilities in New York City. The ‘Epilert’ hospital setup was developed by the Israeli start-up company, BioLert as a technology demonstration and evaluation system prior to launching a commercial product.

CEC of the New York University Medical Center took upon itself to evaluate epilepsy alert systems for the sake of providing a solution to parents and care givers in order to relieve them from 24/7 watch of epileptic patients and improving the quality of life of the patients and their families.

An estimated 2.5 million Americans and over 20 million people worldwide suffer from some form of epilepsy. Even under the care of neurologists and epileptologists, approximately one third of patients with epilepsy do not attain adequate seizure control, thus making their seizures intractable. Children and adults with intractable seizures need comprehensive monitoring.

The ‘EpiLert’ was selected by CEC based on its novel concept and initial tests that are on-going at Epilepsy Surgery Center of the Tel-Aviv Medical Center.

The ‘EpiLert’ hospital set-up consists of a wrist worn movement sensor unit that transmits the movements’ signals to a radio communication stick connected to a laptop’s USB port. The computer records and processes the signal and while recording the system performs real time digital signal analysis. When epilepsy type seizures are identified, generally within 15 to 30 seconds after seizures onset, a sound alert is generated by the computer. System status and other monitored parameters are presented on the computer’s screen.

Movement events that are identified by the ‘EpiLert’ as epilepsy seizures are automatically marked on the recording for further verification and comparison to the Video and EEG data that are generated and recorded by the hospital monitoring system. Likewise, Video and EEG recorded data that is diagnosed as an epilepsy event is compared to the EpiLert recordings for the sake of improvements of the epilepsy seizures identification algorithms.

In its commercial configuration the ‘EpiLert’ will consist of an approximately one inch disc shaped sensor unit that can be mounted under a regular watch. In its outdoors version the alert will be radiod to caregivers or emergency services via the cellular network, along with location information (GPS).

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Healthy olive oil products developer firm Dr. Eger launches a new and healthy olive oil spreads that that is based on a technology breakthrough that maintains the fatty acid composition. Targeting the healthy and functional food market, the spreads can substitute margarine, butter and shortening and supply balanced fatty acids to the diet.

Te spreads are manufactured using a patented oil solidification process, which retains their original properties of all of the ingredients. They include functional ingredients such as Omega-3 fatty acids to preserve and provide great health benefits.

Dr. Eger Spreads are manufactured using a patented oil solidification process, which retains their original properties of all of the ingredients. The olive oil spreads are based on a patented technology developed by Dr. Shaul Eger with collaboration with Professor Ishak Neeman, an Associate Professor at the Department of Food Engineering and Biotechnology at the Technion Institute of Technology in Haifa, Israel.

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Laboratory information management systems provider STARLIMS Technologies (LIMS) has been selected by a global biotechnology company for a multi-site project. The contract value is approximately $4 million, which includes licenses for the Company’s web-based software, initial consulting and professional services and first-year maintenance.

STARLIMS’s web-based LIMS will replace the first-generation LIMS currently in use in the customer’s laboratories. The STARLIMS solution, which will be implemented at the customer’s quality assurance/quality control laboratories in the United States, Europe and Asia, will also provide scientific data management (SDMS) capabilities and electronic laboratory notebook functionality (ELN).

This project will be the first major implementation of STARLIMS Electronic Notebook, a software solution designed to replace paper notebooks, which are still in widespread use in quality assurance and quality control laboratories.

STARLIMS provides laboratory information management systems (LIMS), that improves the reliability of laboratory sampling processes, supports compliance with domestic and international regulations and industry standards, and provides comprehensive reporting, monitoring and analysis capabilities. With operations in the United States, Canada, the United Kingdom, Israel and Hong Kong, the company serves over 500 organizations in 40 countries.

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American medical technology firm Medtronic has acquired Israeli startup Ventor Technologies, a developer of transcatheter heart valve technologies for the treatment of aortic valve disease, for $325 million.

Ventor developed a unique aortic valve prosthesis which can be implanted “off pump”, on a beating heart. Ventor’s unique valve design allows for easy implantation, enhanced prosthesis anchoring and superior hemodynamic performance.

Current standard of care for patients with aortic stenosis is open-heart valve surgery, however, many patients are ineligible for surgery because of their deteriorating health. Transcatheter valves offer a non-surgical alternative for patients who need their valve replaced but may not be good surgical candidates.

This deal will add two technologies to Medtronic’s transcatheter valve portfolio: a minimally invasive, surgical transapical technology and a next generation percutaneous, transfemoral technology. These complementary technologies offer compelling clinical benefit to distinctly different subsets of patients with aortic stenosis who are at high or prohibitive risk for surgery.

“The combination of Ventor Technologies and our strengths in research and development, operations, medical education and market development will improve patient outcomes and expand physician adoption among both surgeons and interventional cardiologists,” said Bill Hawkins, chairman and CEO of Medtronic.

Ventor was founded in 2004 by Dr. Ehud Shvemental of Sheba Medical Center Tel Hashomer, Rafi Benary, and Dr. Shimon Eckhouse, the co-founder of Syneron Medical. Guy Ezekiel is the current president and CEO of Ventor Technologies.

Medtronic is the global leader in medical technology with six major businesses focusing around a condition or therapy type: Cardiac Rhythm Disease Management, Spinal and Biologics, CardioVascular, Neuromodulation, Diabetes, and Surgical Technologies.

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