Smart Medical Systems Ltd., a Ra’Anana, Israel-based manufacturer of innovative gastro-intestinal endoscopy products, secured US$8m in Series B financing.
The round was led by Signet Healthcare Partners, a NY-based healthcare investment firm. As part of the investment, Todd Sone and Ashley Friedman from Signet will join Smart’s Board of Directors.
The company intends to use the funds to commercialize its G-EYE® product, which is clinically evidenced to enhance polyp detection during cancer-prevention colonoscopy procedures.
Led by Gadi Terliuc, CEO, Smart Medical Systems develops and manufactures innovative gastro-intestinal endoscopy devices by leveraging proprietary technology that enhances the performance and capabilities of existing endoscopy equipment.
The G-EYE® product is a novel add-on balloon device that works with standard endoscopes to assist visualization of the colon when screening for adenomas (pre-cancerous polyps).
The company’s CE Marked and FDA cleared NaviAid™ products are commercially distributed in key global markets. G-EYE® is currently distributed in selected regions.