Hadassah Medical Organization technology transfer company Hadasit Ltd. wants to establish an accelerator for medical devices being developed at the hospital, Hadasit VP Stuart Bernstein told “Globes”.
Hadasit plans to pick ten medical technologies developed under its auspices and to raise capital from private investors to provide $1 million in financing for each project. Half of the funding will be provided while the project is at the incubator stage and half after the project graduates. After this period, the more developed technologies will be able to make their way independently, or will be transferred to Hadasit subsidiary, Hadasit Bio Holdings Ltd. (TASE:HDST).
Hadasit Bio Holdings Ltd. ("HBL") currently has nine biotechnology and pharmaceutical portfolio companies, but no pure medical device companies. It is possible that even before Hadasit establishes the planned accelerator, it will transfer several advanced products to Hadasit Bio Holdings.
Hadasit has 20 projects in the pipeline suitable for investment. They include a stent positioning system, a new neck brace, and a full torso brace for scoliosis (curvature of the spine).
Published by Globes [online], Israel business news - www.globes.co.il - on August 5, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007