Israel: Lifescience Innovation Hub
Image Source: Company Website
“I” in Israel probably stands for innovation. Country has been in limelight for its innovations and breakthroughs for quiet long now. Let us take a quick look at some of the major trends that country has put-forth in medtech arena:
Quiet a good number of companies walked down the IPO lane, prominent number of these firms were from Biotech space. Some of the recent on- boarder include Foamix Pharmaceuticals, BiopBlast, Macro Cure. Other Biopharma players which share similar mindset and would look for IPO filing in coming days include Neuroderm and Polypid.
Emerging market penetration:
Israel as an country has always drawn interest from VCs, Medtech Buyers and Collaborators from developed markets. However it is noteworthy that country’s domestic start ups are eyeing emerging market for their product sales, an example around the same is Insightech’s recent CFDA approval for fibroid treatment device.
Start Up incubators:
Israel has made a significant progress in its incubator infrastructure over a period of time. While few funders operate from overseas, others establish their own start-up accelerators in the country. One of the most talked incubator in recent past was Rainbow Medical. Rainbow medical has good number of start ups under its portfolio and garnered attention, not only from Medtech giants such as Medtronic and Abbott but also Industry outsiders such as Sony.
Countries innovation and R&D index is way ahead of any other country in the world. This has pushed some of the medtech giants to open their R&D centers in the country, to leverage the technical know how of the region. Medtech tycoon GE is one of the many to open R&D center in the country.
Novel Breakthroughs and Conventional Device Scale Ups:
Innovation is in the heart of the country and hence drives domestic players to completely wipe off the conventional mode of treatment for the individual therapies. Two of the noteworthy examples backing the aforementioned statement are Premia’s implant to address slip disc and spinal stenosis issues without fusion surgery and Cardiosonic’s ultrasound based treatment of hypertension.
Merger and Acquisition:
Companies falling under the purview of medtech OEM’s future goals become the potential target for Mergers and Acquisition. One of the best deal that country witnessed, is 860 million dollar transaction between Covidien and Given Imaging. Other M&A chapters of past include players such as Medtronic, Boston Scientific and Saint Jude. Medtronic has also gone on board in making claims of potential M&As from the country in the nearing future.
Country has been outpacing US funding activities for quiet some time now. Funding is not just from leading venture capitalist but also from Medtech whos who which includes Boston Scientific, GE and many others. Recent funding deals and partnerships include GE_Check Cap, BSC_Sensible Medical Collaboration.
Country does not stop there , it has been surprising the medtech followers worldwide across multiple facets. It has been making remarkable progress in diagnostic space where Neuro quest deserves special mention. It is also getting viewed as potential end market for devices, this has forced the deal between BSC and a leading domestic distributor Amos Gazit Ltd.
I am sure that news feeds from country will never see a dry spell, as there is a lot in the stock from incubators.
Sources : Company Websites
Key Words: #Israel #Fiercemedical #VC #Funding #Mergers
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