EndoWays, an Israeli developer of a disposable robotic system for the cathlab, has been acquired by Ascendum Capital, a healthcare-focused investment platform founded in 2020. Financial terms of the acquisition were not disclosed.
EndoWays, founded in 2018, developed a fully disposable robotic system to support navigation and operation within blood vessels in neurovascular, peripheral and cardiac procedures. The system uses unique propulsion and steering technologies to guide micro-catheters through tortuous blood vessels and perform complex neurovascular, peripheral and cardiac procedures in minimally invasive procedures.
EndoWays said the deal will help it accelerate its clinical and commercial development, especially in China.
“Our vision is to provide an easy to use and cost-effective tool for the cathlab that will facilitate difficult procedures and allow physicians to work accurately through tortuous blood vessels away from radiation,” said EndoWays founder and CEO Noam Shamay. “With the support of Ascendum’s experience and resources we can continue to make this vision a reality.”
“EndoWays was our very first incubator portfolio company, making its acquisition after less than three years since its founding, a significant milestone,” said Shai Policker, CEO of MEDX Xelerator. “We are proud of the achievements of the team and look forward to the company’s continued success.”
“EndoWays provides attractive competitive advantages that can accelerate entry of robotics into the cathlab, which we believe will be highly valuable to future clinical practice,” explained Serena Shao, Founder and Managing Partner from Ascendum. “After the closing, EndoWays is going to move into the incubator of our strategic partner, DiNovA Medtech, based in Israel, to continue development until commercial launch.”
“The unique features of this robot can help navigate through torturous pathways and enable complex procedures,” said Prof. Chaim Lotan, who will step in as EndoWays’ chief medical officer. “This, together with the reduced radiation exposure for the user through use of this system, makes this technology very attractive to interventional radiologists and cardiologists.”