Sources inform ''Globes'' that Trendlines Group Ltd. portfolio company Stimatix GI Ltd., which has developed a smart disposable ostomy sphincter that prevents uncontrolled bowel evacuation, is in talks on a major deal, apparently an exit. The product has already obtained marketing approval in the US and Europe.
If Stimatix GI is sold now, the price will probably amount to several hundred million dollars, an amount in line with the company's presales development stage.
Stimatix GI's AOS-C2000 is an artificial ostomy sphincter that is implanted in patients who have their large bowel removed and consequently suffer from incontinence. Currently, such patients discharge into a sack attached outside the body. The company's product is a cap in the abdominal wall through which the bowel is periodically emptied at a time and place of the patient's choosing, and the sack is internal, instead of external. The solution is discrete and less limiting for patients.
Stimatix GI CEO David Hanuka told "Globes" several years ago that the company is targeting a $2 billion market in a field with no new developments in decades.
Stimatix GI was founded at Trendlines' Misgav Venture Accelerator. Pontifax chairman Zeev Bronfeld is the company's chairman.
Published by Globes [online], Israel business news - www.globes-online.com - on June 24, 2013
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