Misgav Newsletter Q3 2007
This month we are marking two important beginnings for the Misgav Venture Accelerator.
First, we join with all of Israel in marking the beginning of the New Year.
In addition, we mark another very important beginning for the incubator. We are very pleased to announce that as of September 1 the Misgav Venture Accelerator has been acquired by T.I.F. Ventures Ltd., an Israeli investment company. The acquisition has several very important positive benefits for the incubator and for our portfolio companies:
- We have been capitalized with a $3 million investment that will be used to invest in new companies and to support them.
- We now have the ability to make larger investments in every new company that we establish.
- Our parent, T.I.F. Ventures, is committed to providing our portfolio companies with extensive support to increase their value and to accelerate their success.
- T.I.F.’s investors include a number of leading private equity investors who have an active interest in participating in second round investments in our portfolio companies.
We are confident that this acquisition represents another important milestone in the development of the Misgav Venture Accelerator and we look forward to a very exciting year.
We wish all of you a very healthy and prosperous New Year with our best wishes for a great year filled with much happiness — and with some nice exits, too.
Steve Rhodes, CEO
Misgav Venture Accelerator
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News
Misgav Venture Accelerator “Goes Private” with $6 million investment from T.I.F. Ventures
The Israeli investment firm T.I.F. Ventures purchased control of the Misgav Venture Accelerator and the Mofet B’Yehuda Innovation Accelerator for $6 million, which it raised from investors. T.I.F. Ventures was founded by the owners of the Trendlines Group, D. Todd Dollinger and Steve Rhodes, and attorney Ehud Huberman, a board member and one of the first investors in the Misgav Venture Accelerator more than 14 years ago.
ETView reported to mull TASE IPO
According to Globes[online], "ETView is currently considering a TASE IPO, with the aim of raising $15 million. The offering would value the firm at $30 million. While the firm has not finalized its planned offering process, it has already started to put together the prospectus."
ProIV opens $500,000 round with $150,000 investment as a result of MarketReach America
ProIV has recently opened a $500,000 investment round with the first investment, of $150,000, received as a direct result of its participation in the MarketReach America program. Pro IV’s PRIDE system (Prevent Intravenous Drug Errors) prevents errors in infusing, transfusing, and administering IV medications.
MarketReach America is the unique business development program designed to connect Israeli life science and medical device companies with strategic partners, investors, and experts. Twelve Israeli companies participated in the program, which took place on the Johns Hopkins University campus in Baltimore, Maryland, July 25 and 26.
Medis invests $150k in Scorpion Surgical Technologies
Cell Kinetics, a subsidiary of Nasdaq-traded Medis Technologies, signed an investment agreement of $150,000 with Scorpion Surgical Technologies. Scorpion is the newest Misgav portfolio company.
Scorpion is developing an innovative curved implant for use in spinal fixation. The company’s implant will replace the screws that are currently used for these delicate procedures. Current methods often require additional surgeries to replace or better anchor the screws. Scorpion’s curved implants promise to provide much stronger and more stable anchoring of dynamic fixation methods, thereby reducing or eliminating complications and the need for additional surgeries. In the future, the implant is expected to enable a minimally invasive approach to spinal fusion surgeries as well, about 400,000 of which are performed annually. Scorpion believes its device will enter clinical trials by the end of 2008.
Dune received prestigious Frost & Sullivan award
Medical device start-up Dune Medical Devices Ltd., which develops devices for the diagnosis of cancerous tissue during surgery, has been awarded the 2007 Frost & Sullivan European Technology Innovation of the Year Award for its intraoperative breast cancer probe. Read more about the award.
3 Misgav companies featured in Israel 21c
Three Misgav companies were the subject of recent feature articles in Israel21c, a newsletter focused on technologies and innovations developed in Israel.
- Immunovative Therapies
- PerAssist
- Tagra
Virtual Ports and Lavi Cardiatec featured in Biomedical Business and Technology
The July issue of Biomedical Business and Technology mentioned Misgav companies Virtual Ports and Lavi Cardiatec.
The article “Israeli innovation gets conference, tech transfer push,” by Rae Fishman and Jeffrey Berg, examined Israel’s “emerging and innovative medical device companies.”
In other news from Virtual Ports, Dr. Lee Swanstrom, renowned developer of Natural-Orifice Translumenal Endoscopic Surgery (NOTES), has joined the company’s scientific advisory board.
BioPack technology featured in freshinfo
The results of a successful experiment using plastic sheets treated with BioPack’s environmentally friendly, natural insect-repellent technology appeared in freshinfo, news and service for the fresh fruit industry.
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Events
Upcoming cleantech conference
Genova will be exhibiting at the WaTec conference in Tel Aviv, Oct. 30 - Nov. 1. The company will be in Hall 10 (booth 18). Genova’s technology produces energy from biomass.
MEDICA on the horizon
Steve Rhodes will once again be attending this year’s MEDICA, November 14-17, in Düsseldorf, Germany.
MEDICA is the world’s largest medical conference and exhibit with more than 4,200 exhibitors from 65 nations. Last year’s show drew more than 137,000 attendees.
©2007 The Misgav Venture Accelerator. All rights reserved
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