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