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Press Release - August 11, 2003. |
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Press releases |
QuantomiX Raises $3.5 million from Vitalife, Pitango Venture Capital and SFKT in second financing round TEL AVIV, ISRAEL - AUGUST 11, 2003 - QuantomiX Ltd, an Israeli life sciences company which develops and markets capsules that enable on-line accurate analysis of wet cells and tissue biopsies in an electron microscope, has raised $3.5 million in a second financing round. Vitalife, the Israeli life sciences venture capital fund, led the round and was joined by Pitango Venture Capital, which led the previous round for QuantomiX, and SFKT. QuantomiX, founded in 2001 by Dr. Ory Zik, CEO, and Dr. Michael Brunstein, Chairman of the Board, has solved the 50-year-old problem of direct imaging of hydrated samples in an electron microscope. QuantomiX's proprietary capsule technology enables direct high resolution imaging of cells and tissue biopsies for research, patient care and drug discovery. The platform, now at the beta development stage in leading US and Israeli research institutes, is set to be marketed first in the United States and then in Europe and Japan. Commenting on the latest financing round, Jeff Dykan, Managing Partner at Vitalife, said: "QuantomiX's unique technology represents a true breakthrough in life science research, drug discovery and various medical applications. We believe that the QuantomiX combination of proprietary technology, which combines the advantages of light and electron microscopy, with multiple large and growing global markets, an experienced team of employees and management plus a sound business model will ensure this company's success." Dr. Ory Zik, CEO of QuantomiX, said: "Our strategy is to build a profitable business in a relatively short time by capitalizing on the research market, while gradually expanding our presence in the medical and drug discovery markets. We have identified a number of applications, each with large market potential, which we are investigating with global market leaders. These include neural diseases, cancer and metabolic diseases. The support of the new and current investors endorses our approach: introducing breakthrough technologies which can be rapidly commercialized as high volume consumable products." About QuantomiX The QuantomiX (http://www.quantomix.com) R&D center is located in Rehovot, Israel. The company is now establishing a US presence in the Boston area, where leading research institutes use its QXTM capsule product line as beta sites. About Vitalife Vitalife, a life sciences venture capital fund, invests in Israeli and Israel-related companies in the fields of medical devices, drug discovery, drug delivery and bio-informatics. Vitalife's global investors include HarbourVest Partners, SCP Private Equity Partners, DCM and Boston Scientific. The fund's managing partners are Dr. Avi Ludomirski, an acknowledged expert in several medical areas and a successful businessman, and Jeff Dykan, a highly experienced business manager who has worked in senior positions at top global companies. Vitalife is based in Tel Aviv. For further information, visit: www.vitalifevc.com. About Pitango Venture Capital Pitango Venture Capital, the leading venture capital firm in Israel, has been investing in technology entrepreneurs since 1993. With offices in Israel, Silicon Valley and London, Pitango currently manages several venture funds totaling over $700 million in committed capital invested in more than 85 companies including AudioCodes (NASDAQ: AUDC), Chromatis (acquired by Lucent), CardGuard (SWX New Market: CARDG), ITXC (NASDAQ: ITXC) and Radware (NASDAQ: RDWR). Pitango specializes in providing long-term support and value-added services to its portfolio companies, with a focus on seed to late-stage companies in communications, software and Internet infrastructure, semiconductors and life sciences. More information about Pitango is available at: www.pitango.com.
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