Sources inform ''Globes'' that Moshe (Mori) Arkin has recruited Dr. Uri Geiger to jointly set up a new seed-stage investment fund, to be called Accelmed , which will invest in Israeli medical devices companies. The two men declined to comment on the initiative, but the fund's website states that it will make initial investments of $1-3 million, and that it will seek "to acquire a significant equity position (usually above 25%) in each company."
Accelmed also states that it will invest in companies that have proven clinical data.
Although the proposed investments appear to be small, in these times of crisis, they are enough to acquire large stakes in struggling companies. Even technology incubators, which invest smaller amounts with more restrictions and without Arkin, are reporting impressive deal flows in cash-strapped medical device companies that are in the clinical trial stage.
Accelmed's portfolio can also suit Tel Aviv Stock Exchange-listed companies, many of which are traded at prices that can enable an investor to become a major shareholder with an investment of $1-3 million.
In addition to proven clinical data, Accelmed's investment criteria include a core team that is able to take the technology to the sales stage, a potential market of at least $100 million in annual revenue, a clear regulatory pathway with preference for the US Food and Drug Administration (FDA) 510(k) regulatory path.
Geiger is Accelmed's chairman and Arkin is chairman of its investment committee.
Published by Globes [online], Israel business news - www.globes-online.com - on January 26, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009