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Medical diagnostic applications developer Pocared Diagnostics raised $10.7 million June 13, 2007

Posted by israelhealthcare in Medical Diagnostic.
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Medical diagnostic applications developer Pocared Diagnostics raised $10.7 million in a financial round of led by Elron and SCP Vitalife Partners.

“We view Pocared as a highly innovative company presenting an out-of-the-box solution and introducing a disruptive platform technology in the field of real-time IVD,” said Elad Frenkel, Elron’s Director of Business Development.

Pocared provides an innovative solution for real-time, reagentless In-Vitro Diagnostics (IVD). The company wide technological platform may be used to address a wide range of medical and industrial diagnostic applications.

Pocared’s Point-of-Care (POC) diagnostic systems, based upon selective spectrum technology, enable immediate, on-site analysis of human fluids and specimen in order to provide physicians with real-time detection, identification and antibiotic sensitivity of pathogenic bacteria.

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Israel’s life science industry exports will doable to $10 billion by 2009 June 6, 2007

Posted by israelhealthcare in Life Science.
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Exports of the Israel’s life science industry will doable to $10 billion by 2009, according to a new forecast by Israel Export Institute, that revealed before the opening of Biomed 2007 conference, the key event of Israel’s life science industry.

The sector’s exports increased by 32% to $4.7 billion in 2006 and grow by 26% to $1.2 billion in the first quarter of 2007.

Other new figures that reported towards the Biomed Israel 2007 Week, show that in the last six months (November 2006 to May 2007), the Israel Chief Scientist office earmarked $100 million in budgets for the life science industry.

The Chief Scientist handled applications from 58 companies for support in 114 specific projects. Of the $100 million given to the life science industry, research and development budgets accounted for $41 million.

The figures also show that support of the life science industry continues to grow its share of the Chief Scientist’s “budget pie”. In 2000, the Chief Scientist office allocated 14% of its budget to this area. By 2003, the rate was 23% and in 2006 28% of the total budget.

A breakdown into industry segments shows that biotechnology received the largest share of the Chief Scientist’s R&D allocations with $31 million, compared with $27 million in 2005. Medical devices protected its share at $25 million, while pharmaceuticals increased their share of R&D support from $17 million in 2005 to $22 million in 2006.

Total R&D grants extended by the Chief Scientist office for life science ventures in 2006 was $78 million. 20% of the approved programs were for medical devices, 43% for bio-pharma and 37% for biotechnology.

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Biolert and Brainsway won the UK Medical Futures Innovation Awards of 2007 June 3, 2007

Posted by israelhealthcare in Neuroscience.
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Israeli medical device startups, Biolert and Brainsway, have won the Medical Futures Innovation Awards of 2007 in the category of Mental Health & Neuroscience. The Medical Futures Innovation Award is the United Kingdom‘s most sought after healthcare award, supported by the UK prime minister.

Biolert have been selected as an Award winner in the category of ‘Neuroscience Innovation’ for its innovation solution EpiLert, a wireless device alerting caregivers of an on-going epileptic attack. It was chosen on three principle criteria, namely; novelty; impact on patient care and its viability, whether that be clinical, technical or commercial.

Brainsway has won the award for its unique Deep TMS technology, aimed for the non-invasive treatment of various neurological and psychiatric disorders.

The award is aimed to encourage, support and reward clinical and commercial excellence from the healthcare & life sciences professions. The criteria for the award emphasize the potential benefit for patients, the novelty and the technical and commercial applicability. Awards will be officially granted on June 14 at the Innovators Gallery Exhibition & Awards Ceremony in London, UK.

BioLert, Brainsway and about 100 other projects entered the contest of the ‘mental health and neuroscience’ group. The judge committee, including leading professors of psychiatry, neurology and business people in the UK, based their judgment on the combination of contribution to medicine, innovation and financial promise.

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