Israeli remote gynecological imaging platform developer illumigyn has announced the closure of a $33 million financing round with Yozma Group Korea and Ubicom Holdings Japan among the investors.
The funding will allow the company to speed up plans to bring cutting-edge gynecological imaging to women wordwide, starting this month with deployments in the US, UAE, India, Singapore, and South Korea.
Based in Neve Ilan near Jerusalem, illumigyn has developed a complete platform featuring the Gynescope System, a "gynecology endoscope" and cloud platform service with an accompanying mobile application.
The FDA-cleared remote gynecological platform, the Gynescope, digitally documents the cervix, vagina, and external genitalia. High-quality resolution and magnification enhance details beyond the capabilities of traditional cervix exams, enabling more accurate pap smears.
The illumigyn Gynescope can be handled by any trained caregiver (OB/GYN, GP, Midwife, Nurse Practitioner, and Physician Assistant) so that women of all individual sensitivities can be assessed in a safe space. The HIPAA-compliant solution automatically uploads and securely stores images to the cloud. This allows a doctor or specialist to view the images remotely and provides women with access to their scans and doctors' recommendations.
illumigyn founder Ran Poliakine said, "This is another milestone in our vision to democratize women's healthcare and bring advanced gynecological care to women worldwide. Our deployments this month are aligned with our mission to bring our platform to women everywhere, in developed and developing countries, in population centers, as well as remote communities. This is our mission and our commitment."
The investment will also advance illumigyn's R&D efforts, which are geared toward turning illumigyn into a comprehensive solution for examining the lower genital tract and providing women across the world the best possible care for cancer and other diseases. This includes the worldwide availability of preventive screenings, evaluations, diagnoses, and treatments.
illumigyn chairman and CEO Dr. Avi Ludomirski said, "We are proud to introduce to the world a cutting-edge innovation that will ensure that women all over the world will feel safe during gynecological exams and will have access to all of their medical information. The funding secured by the company will be deployed to ramp up production and will enable illumigyn to execute existing distribution agreements and sign additional new global partnerships."
Published by Globes, Israel business news - en.globes.co.il - on November 4, 2021.
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