Epitomee Medical Secures $8 Million in Equity Financing to Advance Biodegradable Capsule for Obesity Treatment

VCBeat (WeChat ID: vcbeat) has learned that on April 9, 2019, medical device company Epitomee Medical completed an $8 million equity financing round. The round was led by XT Hi-Tech, with participation from GCB Services and Dr. Shimon Eckhouse. The company intends to use the funds to advance the clinical research program for its flagship product, the Epitomee Capsule, accelerating its path to market.

Epitomee Medical, headquartered in Jerusalem, Israel, is a privately held medical device company founded by Dr. Shimon Eckhouse. It is dedicated to developing therapeutic solutions for today’s most prevalent chronic diseases. Currently, the company is developing a safe, effective, and convenient weight-loss capsule for individuals who are overweight or obese.

Epitomee Medical has launched a new product called the Epitomee Capsule, an oral capsule with a favorable safety and tolerability profile, indicated for individuals who are overweight or have mild obesity. The capsule contains a biodegradable device that is taken twice daily. After ingestion, it mechanically stimulates the stomach within a few hours to induce satiety, thereby reducing caloric intake and helping patients lose weight and prevent diabetes. However, during treatment with the capsule, patients should control their food intake and engage in appropriate physical activity to achieve optimal therapeutic outcomes.

Idan Ofer, head of XT Hi-Tech, stated, “Epitomee Medical’s technology is unique and holds significant implications for the obese population. Furthermore, the company boasts extensive research experience, a professional management team, and access to a vast market, all of which align closely with our investment strategy.”

Dr. Dan Hashimshony, CEO of Epitomee Medical, stated, “The Epitomee Capsule has received consistent acclaim from both physicians and patients, showing promise as a first-line treatment for individuals with overweight, early-stage diabetes, and moderate obesity. We will leverage this financing to advance our clinical programs and deliver better solutions to millions of patients.”

Phase 2a clinical trials have demonstrated that after 12 weeks of treatment with the Epitomee Capsule, patients experienced significant weight loss, improved glycemic control, and better blood pressure levels, with no reported side effects or toxicity. Epitomee Medical is about to initiate a 24-week Phase 2b clinical study to further elucidate the therapeutic potential of the Epitomee Capsule in patients with overweight, obesity, or early-stage diabetes.

It is understood that overweight and obesity result from excessive body fat caused by genetic, environmental, and other factors. Overweight and obesity have become a global epidemic. In 2018, the Food and Agriculture Organization of the United Nations stated that overweight and obesity are currently spreading in both developed and developing countries, becoming a global issue that cannot be ignored. Overweight and obesity can lead to a series of diseases, such as cardiovascular diseases, musculoskeletal disorders, and diabetes.

XT Hi-Tech, founded in 1997 and headquartered in Israel, is a global venture capital firm with investment focuses on AR, precision agriculture, information security, healthcare, and the Internet of Things (IoT).

GCB Services, headquartered in Virginia, USA, is one of the leading independent providers of engineering and information technology services in the telecommunications and IT industries, dedicated to delivering optimal business solutions to the telecommunications sector through professional wireless network design.

Dr. Shimon Eckhouse is a distinguished Israeli medical entrepreneur who has founded more than 20 startups, including Syneron Medical, Lumenis, Ventor, and Real-View Imaging.

(Compiled by Jiao Yanli)