March 16, 2018 + Jessica Di Palo
5 Min read
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.”
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