Roman Abramovich invests in electronic pill co MelCap

Melcap

The Israeli company's electronic capsule is designed to treat obesity and gastrointestinal diseases.

Russian billionaire Roman Abramovich is investing $2 million in an Israeli medical equipment startup. Sources inform "Globes" that Abramovich will make the investment in MelCap Systems, which is developing an electronic capsule placed by magnets at a specific location in the gastrointestinal tract. The capsule broadcasts signals that stimulate a feeling of satiety. The capsule, which is controlled from outside the body, can also be used for other medical purposes, including the release of drugs in the intestine and treatment of a number of gastrointestinal diseases.

Entrepreneur Josef More founded MelCap three years ago, together with partners Boris Vosnesensky, an electrical engineer, and Prof. Rami Eliakim, Head of the Gastroenterology Division in the Sheba Medical Center at Tel Hashomer. The main purpose of MelCap's capsule is to combat obesity, although the platform is also designed for other diverse uses in the digestive tract.

Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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