Epitomee Medical, a Caesarea, Israel-based bio-medical company developing treatments for the overweight and obese population, including treatment of glycemic control, weight reduction, and hypertension based on its swallowable-device gastric retention platform, closed an $8m equity financing.
The round was led by XT Hi-Tech, with participation from GCB and Dr. Shimon Eckhouse.
The company intends to use the funds to advance the clinical program and bring its solutions closer to market.
Led by CEO Dr. Dan Hashimshony, and Dr. Shimon Eckhouse, co-founder and chairman, Epitomee Medical is advancing the Epitomee Capsule, an orally taken capsule that contains a shape-shifting scaffold. It works on the stomach itself by direct mechanosensory stimulation. Taken twice a day, the capsule helps the body to have an early sensation of fullness and prolonged gastric emptying, which results in lower daily caloric intake and subsequent weight loss.
The initial clinical study on the product, which is equivalent to a Phase 2A drug clinical trial, demonstrated weight loss and improvement in glycemic control, ameliorating blood pressure levels with no safety concerns within 12 weeks of treatment.
The Phase 2B study is designed to show the power of the technology in overweight, obese and prediabetic patients over a 24 week trial period.