Zsquare secures a $15m round with its lead investor
PR94732
TEL AVIV, Israel, Mar. 1 /PRNewswire=KYODO JBN/ --
- Continuing to lead the technological transformation of single-use endoscopy
Zsquare, a leading developer of high-performance, single-use endoscopes, has
raised $15M in financing for the soft launch of its disruptive single-use ENT
endoscope and further R&D to expand potential use in other indications. The
soft launch is planned following FDA clearance expected in the third quarter of
2022.
This $15M round of financing was led by Chartered Group, a private equity firm
specializing in disruptive technologies with a far-reaching presence in Europe
and Asia. This is their second consecutive investment in Zsquare, signaling
strong confidence in the company’s technology and growth potential.
“We are excited to witness and support the maturation of Zsquare’s disruptive
technology and are confident that it will bring significant benefits to the
world of endoscopy by changing the entire cost-benefit structure of these
widely used devices”, says Eyal Agmoni, Chairman of Chartered Group.
Zsquare's high-performance, single-use endoscopic platform
[https://www.zsquaremedical.com/] is designed to improve diagnostic
performance, eliminate risk of cross-infection and dramatically reduce
healthcare costs. With a hybrid design that includes a universal, reusable
imaging core and alternating, indication-specific disposable shells it is
capable of addressing multiple indications, as well as solving unmet imaging
needs for new indications.
According to Asaf Shahmoon, CEO and co-founder of Zsquare, “As the world is
rapidly moving towards single-use devices, Zsquare is advancing to introduce
new groundbreaking technologies and capabilities to this up-and-coming market.
This round will help the company advance our go-to-market plan for the initial
ENT product, as well as ramp up R&D for next generation capabilities and
further indications.”
Zsquare’s unique design [https://www.zsquaremedical.com/#Products] overcomes
the inherent diameter versus image quality tradeoff of conventional
chip-on-the-tip designs, in a cost-effective way. Zsquare's solution houses the
less costly optics in a single-use shell, with high-value imaging electronics
in a detachable, reusable imaging core. The result is a cost-effective solution
that dramatically reduces the optical component's diameter without compromising
on image resolution, eliminates the risk of cross-contamination, and enables
access to anatomies that could never be properly imaged before.
“Zsquare’s single-use endoscopic platform is showcasing remarkable, never-seen
before high-resolution images, using a flexible scope with an imaging diameter
of less than 0.5mm” says Prof. Hisao Tajiri, M.D., Senior Advisor of the Japan
Gastroenterological Endoscopy Society (JGES) and member of Zsquare Scientific
Advisory Board. “This groundbreaking innovation will usher in a new era in
endoscopy, combining superior diagnostic capabilities with an excellent safety
profile.”
About Zsquare:
Zsquare, a privately held medical device company with headquarters in Israel,
develops cost-effective, high-performance, single-use endoscopes to enable
access to unserved indications, improve performance in current practices, and
solve the industry's cross-contamination problem.
Logo - https://mma.prnewswire.com/media/1136770/Zsquare_Logo.jpg
Media Contact:
Chen Goldstein
+972-524258183
chen.goldstein@zsquaremedical.com
Source: Zsquare
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