MeMed raises $93 million to translate the immune system

The Israeli company recently received FDA approval for its MeMed BV test to help healthcare providers distinguish between bacterial and viral infections
By: MeMed
TEL AVIV, Israel - Jan. 23, 2022 - PRLog -- Israeli healthtech company MeMed announced on Monday the completion of a $93 million Series E. The round brings MeMed's total funding to date to over $200 million, including support from the U.S. Department of Defense and EU Commission. The latest financing brings together new and existing investors including Horizons Ventures, Shavit Capital, Social Capital, La Maison Partners, Touchwood Capital, Caesarea Medical Holdings, Union Tech Ventures, ClaI Insurance, Phoenix Insurance, Poalim Equity and Western Technology Investment. MeMed, which develops diagnostic solutions to translate the immune system's complex signals, didn't disclose the valuation at which it raised its Series E, but noted that its valuation increased significantly since its previous round.

"This funding round and the recent FDA approval, which opened many opportunities for us, concludes a journey of a decade that began with a sketch on a napkin in grandma's kitchen," Eran Eden, MeMed's co-founder and CEO, told Calcalist. "The human immune system is an accurate tool for finding out what is happening in our body and we track the immune system in order to provide solutions for modern medicine. We tried to work with all of the big pharmaceutical companies in the world but didn't succeed and we understood that we needed to develop a system that could track proteins in the blood in real time. This was the stage in which the U.S. Department of Defense and EU Commission came into the picture with $30 million in funding and we managed to track these molecules within 15 minutes."

Location:Tel Aviv - Tel Aviv - Israel
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