New MTIP investment - Nitinotes Series A Round
MTIP has invested in Nitinotes Ltd, an Israeli based company developing breakthrough, minimally invasive devices for the multi-billion dollar obesity market. MTIP joins Elron Industries and Accelmed to expand the Series A round, bringing funds raised to $6.7M.
Nitinotes has developed the EndoZipTM, a fully automated, operator independent gastroscopic suturing system, allowing gastroenterologists as well as surgeons to bring a durable solution to their patients. The procedure creates an effect of stomach volume restriction and motility impair - both are needed to help obese patients reducing weight.
"We’ve welcomed MTIP into the round due to their experience in medical device investing and extensive networks in Europe,” said Raz Bar On, CEO of Nitinotes. "As we enter our first clinical trial, the value MTIP can bring to us in navigating the clinical and regulatory pathways will be very useful."
"Nitinotes has a great team developing a much needed solution for the large number of obese patients that cannot lose weight from just diet and lifestyle change. said Dr Christoph Kausch Founding Partner and CEO of MTIP. “Metabolic disease including obesity are creating massive challenges for health care systems across the globe. We are excited about the potential that Nitinotes has to improve the lives of these patients.”
Bruce Meadows, the Fund's Senior Investment Director, added that "Nitinotes is great example of the early stage companies we are looking for. The company is lean, focused on creating vale and is exceptionally managed.”
For more information please contact:
Senior Investment Director
Phone: +41 61 551 02 54
MTIP MedTech Innovation Partners AG
Dufourstrasse 49, CH-4052 Basel
MTIP is a Swiss-based venture capital investor specializing in the healthcare sector. Founded by entrepreneurs, our company partners with innovative start-ups in the medical device, diagnostic and digital health segments to create cost-effective and socially responsible solutions for improving patient care. Supported by seasoned investment professionals and a proprietary network of research institutions and medical facilities, we provide financial and strategic assistance from the startup through growth stages. Simply put, our goal is to empower talented entrepreneurs to develop successful and sustainable businesses with clear competitive advantages.