Israeli ultra-thin endoscopy company Zsquare has secured $10 million in financing for further development of its MultiPly single-use endoscopic platform. The company plans moving its mini 0.45mm fiber endoscope towards expedited FDA 510K clearance.
The financing round was led by previous investor Chartered Group, which has a strong presence in East Asia and Japan.
Zsquare's disruptive technology has broad applications. The platform offers the only ultra-thin, flexible, high-resolution, single-use endoscope that enables access to unserved indications and improves usability and diagnosis quality in commonly practiced indications. The endoscope's unique single-use properties eliminate the risk of infection caused by contaminated, reused endoscopes, and dramatically reduces healthcare costs.
At the core of Zsquare's endoscopes are its unique 0.45mm square fibers, which provide a distinctive building-block-style modularity. Starting from a single-fiber imaging endoscope, additional medical indications can be addressed as more fibers are bundled in, with enhanced functionality and performance that include higher resolution, 3600 angulation, 3D capabilities, extended depth of field, extended field of view, and more. Zsquare's special combination of single-use, flexibility, tiny dimensions, and high-resolution imaging is a breakthrough in endoscopic technology, delivering higher performance in a smaller package than any current endoscope, giving the physician, for the first time, the best of all worlds.
Chartered Group chairman Eyal Agmoni said, "Zsquare is set to revolutionize the landscape of endoscopic care by introducing a game changing modular, single-use concept, opening the door to endless new and exciting integrations in the minimally invasive care world."
The Tel Aviv based company was founded by CEO Dr. Asaf Shahmoon and CTO Prof. Zeev Zalevsky.
Dr. Shahmoon said, "This investment is a vote of confidence in Zsquare's unique platform. We firmly believe that our endoscopes will not only transform current practices, but also democratize procedures, by expanding the reach of endoscopic-assisted care to outpatient clinics and developing-world settings."
Published by Globes, Israel business news - en.globes.co.il - on February 27, 2019
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