TEL AVIV, Israel–(BUSINESS WIRE)–Aug. 14, 2003–QuantomiX Ltd, an Israeli life science company which develops and markets capsules that enable on-line accurate analysis of wet cells and tissuebiopsies in an electron microscope, has raised $3.5 million in a second financing round.
Vitalife, the Israeli life sciences venture capital fund, led the round and was joined by Pitango Venture Capital, which led the previous round for QuantomiX, and SFKT.
QuantomiX, founded in 2001 by CEO Dr. Ory Zik and Chairman of the Board Dr. Michael Brunstein, has solved a 50-year-old problem of direct imaging of hydrated samples in an electron microscope. QuantomiX’s proprietary capsule technology enables direct high resolution imaging of cells and tissue biopsies in research, patient care and drug discovery. The platform, now at the Beta development stage in leading research institutes in the US and Israel, is set to be marketed first in the US and then in Europe and Japan.
Commenting on the latest financing round, Jeff Dykan, Managing Partner at Vitalife, said: “QuantomiX’s unique technology represents a true breakthrough in life science research, drug discovery and various medical applications. We believe that the combination of proprietary technology which combines the advantages of light and electron microscopy, multiple large and growing global markets, an experienced team of employees and management plus a sound business model will ensure this company’s success.”
Dr. Ory Zik, CEO of QuantomiX, said: “Our strategy is to build a profitable business in a relatively short time by capitalizing on the research market, while gradually expanding our presence in the medical and drug discovery markets. We have identified a number of applications, each with large market potential, which we are investigating with global market leaders. These include neural diseases, cancer and metabolic diseases. The support of the new and current investors endorses our approach: introducing breakthrough technologies which can be commercialized rapidly as high volume consumable products.”
About QuantomiX
QuantomiX ( www.quantomix.com ) employs 15 people and has its R&D center in Rehovot, Israel. The company is now establishing its US presence in the Boston area, where leading research institutes use its QX(TM) capsule product line as beta sites.
About Vitalife
Vitalife ( www.vitalifevc.com ), a life sciences venture capital fund, invests in Israeli and Israel-related companies in the fields of medical devices, drug discovery, drug delivery and bio-informatics. Vitalife’s global investors include HarbourVest Partners, SCP Private Equity Partners, DCM and Boston Scientific. The fund’s managing partners are Dr. Avi Ludomirski, an acknowledged expert in several medical areas and a successful businessman, and Jeff Dykan, a highly experienced business manager who has worked in senior positions at top global companies. Vitalife is based in Tel Aviv.
About Pitango Venture Capital
Pitango Venture Capital ( www.pitango.com ), the leading venture capital firm in Israel, has been investing in technology entrepreneurs since 1993. With offices in Israel, Silicon Valley and London, Pitango currently manages several venture funds totaling over $700 million in committed capital invested in more than 85 companies including AudioCodes (NASDAQ: AUDC), Chromatis (acquired by Lucent), CardGuard (SWX New Market: CARDG), ITXC (NASDAQ: ITXC) and Radware (NASDAQ: RDWR). Pitango specializes in providing long-term support and value-added services to its portfolio companies, with a focus on seed to late-stage companies in communications, software and Internet infrastructure, semiconductors and LifeScience.
