February 9, 2021 – EndoWays, developer of a disposable robotic system for the cath lab, has announced that it has completed the acquisition of the majority of its shares by Ascendum for an undisclosed cash amount.
EndoWays, which was founded in 2018 by Noam Shamay, Tovy Sivan and Tamir Ben David, is a holding company of Medx Xelerator. During its incubation period, EndoWays developed a one-of-a-kind, fully disposable robotic system to support navigation and function in blood vessels in neurovascular, peripheral and cardiac procedures. The agreement will allow EndoWays to access the extensive experience and network of the Ascendum team, thereby helping to accelerate its clinical and commercial development, particularly in China.
The technology, currently in the preclinical stage, is designed to help interventional radiologists and cardiologists navigate blood vessels and perform complex procedures while being shielded from radiation in another room or even on another continent. The disposable design of the robot makes it affordable and easy for the doctor to use with minimal setup time required.
“Our vision is to provide an easy-to-use, cost-effective cathlab that will facilitate difficult procedures and allow physicians to work accurately through tortuous blood vessels safe from radiation,” said Noam Shamay, Founder and CEO of EndoWays. “With the support of Ascendum’s experience and resources, we can continue to make this vision a reality.” Shamay will be the company’s chief technology officer after the acquisition.
“EndoWays was our very first incubator holding company, making its acquisition less than three years after its inception a milestone,” said Shai Policker, CEO of Medx Xelerator. “We are proud of the team’s accomplishments and look forward to the continued success of the company.”
“EndoWays offers attractive competitive advantages that can accelerate the entry of robotics into the cathlab, which we believe will be of great value for future clinical practice,” said Serena Shao, Founder and Managing Partner of Ascendum. “After closing, Endoways will move into the incubator of our strategic partner, DiNovA Medtech, based in Israel, to continue development until commercial launch.
Professor Chaim Lotan, who will speak as Chief Medical Officer of EndoWays, added: “The unique characteristics of this robot can help navigate through tortuous pathways and enable complex procedures. This, along with the reduced radiation exposure to the user through the use of this system, makes this technology very attractive to interventional radiologists and cardiologists. “
For more information: www.endoways.com
The Medx Xelerator is a leading medical device incubator formed at the initiative of Boston Scientific, Medx Ventures Group and Sheba Medical Center. Operating under the auspices of the Israel Innovation Authority, Medx Xelerator draws on its team’s healthcare expertise and industry experience with the cutting-edge knowledge of its partners to nurture its holding companies in successful medical ventures for the benefit of patients and healthcare professionals. Other companies in Medx’s portfolio include Append Medical, ExeroMedical, PatenSee, Swift Duct, Dimoveo, and Synchrony.
For more information: www.medxelerator.com