We are excited to announce that Epitomee Medical has completed a $51M IPO in the Tel Aviv Stock Exchange with a pre-money valuation of $200M. The offering was led by Leumi Partners Underwriting and Barak Capital. At the same time, our investors and partners, Nestle Health Sciences converted a $7M bringing the total amount raised to $58M.
Since its foundation in 2005, Epitomee research has been focused on ingestible devices that operate in the stomach and are used primarily to lose weight.
It took some time for the technology to be proved safe and effective for weight management. By 2020 there was enough evidence to gain the approval of the European authorities for the Epitomee Capsule as a weight loss device. However, even a greater vision was unleashed with the joining of Dr. Dan Hashimshony in late 2017: Using the same technology platform to develop ingestible therapeutic devices.
The pipeline covers a range of devices and device drug combinations acting along the GI tract, performing simple but highly important therapeutic tasks including delivery of biologics, micronutrients, and small molecules.
A Nestlé Health Science exclusive marketing agreement for Epitomee’s lead product- the Weight Management platform was signed in August 2020, confirming the validity of Epitomee’s technology and its commercial potential.
Pioneers in our industry, we are proud to lead our research and development with cutting-edge ingestible therapeutics device platform aimed at tackling some of today’s most prevalent chronic diseases with a self-managed, more convenient, safer and gentler to the system solution.
The investment will accelerate our growth engines, enhance our ingestible therapeutic device platform and will enable us in getting ready to market launch with our first product, the weight management ingestible device.
At present, Epitomee is working on the research and development of a second product line– ingestible therapeutic devices designed to operate in undefinable regions along the GI tract to deliver biologics. Epitomee’s technology holds the potential to relieve millions of people of the need to undergo painful injections daily or weekly and even more invasive procedures by allowing them to simply take a pill at home.
Shifting from injections to a swallowable capsule could improve the lives of millions of people by helping them adhere to their prescribed treatments.
We’re eager to connect and join forces with organizations that share the same vision as we do. Let’s make oral delivery a reality, together.
On behalf of the entire Epitomee Medical team, thank you for being part of our vision.