Israeli diagnostic start-up Quantomix Ltd. is the latest Israeli company to be acquired by a rival, although in this case the sum was less than the $15 million it received in investment. The company was acquired by Yavne-based El-Mul Technologies Ltd. for a few million dollars. Quantomix investors include Evergreen Venture Partners, Vitalife Life Sciences Venture, and Shrem Fudim Kelner & Co. (TASE: SFK).
Quantomix was founded in 2001 by former El-Mul manager Dr. Uri Zik, XTL founder Dr. Zachy Berger, and Dr. Micha Borstein. The company initially operated in several fields but before focusing on one. Quantomix has developed WetSem, a capsule-based technology for the microscopic imaging of fully hydrated tissue samples in a vacuum. The technology eliminates the need to dry the tissues, which changes their exterior.
WetSem is a capsule that includes a nanotechnology membrane that is resistant to the vacuum created by an electron scanning microscope. The membrane can function in the sample's wet environment while remaining thin enough for electrons to pass though, enabling an image to be taken.
El-Mul is a private company that manufacturers a range of nanotechnologies for use with electron scanning microscopes. The company has been around for 15 years. El-Mul CEO Armin Schon says that is profitable and had $3.5 million in sales this year.
Published by Globes [online], Israel business news - www.globes-online.com - on November 29, 2007
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