OurCrowd portfolio company Zebra Medical Vision, a deep-learning Medtech company, has announced its fifth FDA 510(k) clearance for its Vertebral Compression Fractures (VCF) product.
The VCF product expands the company’s growing “AI1” (all-in-one) bundle of FDA cleared AI solutions.
The company explains that nearly half of all women and a quarter of men over the age of 50 will suffer an osteoporotic fracture in their lifetime. The cost of osteoporosis-related fragility fractures in the U.S. is estimated to be $52 billion annually.
Zebra-Med claims to be the first AI start-up in medical imaging to receive FDA clearance for a population health solution, which leverages AI to stratify risk, improve patient’s quality of life, and reduce the cost of care.
In a recent article in the Jerusalem Post, OurCrowd CEO Jon Medved explained that the COVID-19 pandemic has shifted the focus of many investors that could have profound implications for Medtech innovation – an area of interest for the investment crowdfunding platform:
To quote Medved:
“You’re going to see a complete renaissance. The impact of this crisis on the investment world, especially venture capital, is really interesting. A couple of things are becoming apparent: an absolute and renewed focus on healthcare and medical everything, obviously with anything related to the current crisis getting huge attention and support. It’s been under-invested until now, particularly in Israel.”
OurCrowd has targeted more of its firepower at early-stage ventures attempting to tackle the Coronavirus crisis including therapies, vaccines as well as Medtech.
Two prime examples are OurCrowd portfolio companies Kyron and MedVX.
Kyron is a company that accelerates the COVID-19 testing process. Kryon has developed an automated process where robots process and verify records in less than one second.
In April, OurCrowd announced that it would lead a $12 million funding round in MigVax Corporation – a venture that is developing a COVID-19 vaccine.
OurCrowd has approximately $1.4 billion of committed funding and investments in 200 portfolio companies as well as 20 venture funds. Investors come for more than 183 different countries.
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