Funding

Biop's technology can ID likely areas of the cervix where cancer is developing, enablign more accurate results and speeding up the screening process to a matter of minutes

3-minute cervical cancer test nets Israeli startup $2.25 million investment

This Israeli startup is offering the latest of several innovative approaches to beating back the #2 most deadly cancer to women in the world


Israel-based Biop Medical raised its first big money Tuesday with a $2.25 million Series A investment led by Shanghai Creative Investments and a number of U.S.-based investors.

Biop’s main medical device is designed to pinpoint suspect areas of the cervix that might be developing tumors, thereby identifying regions that should be biopsied and then testing samples immediately in the same procedure. That cuts out weeks of waiting between checkups and receiving test results.

“We are able to identify diseased lesions at its earliest stage because our optics are able to observe what is happening at a cellular level, for the full depth of the cervix to its base, the stroma,” Biop’s CEO Ilan Landesman told Geektime, referring to observations made during clinical trials. “As such, even initial changes to the cervical cells will be identified and observed for future learning and to improve our predictive abilities.”

Those trials are happening in Biop’s native Israel as well as in Hungary, which might strike some as a surprise. Landesman says it really shouldn’t.

“Hungary, and in particular Semmelweiss University Hospital, was chosen because it’s recognized as a high quality hospital with a track record of successful clinical trials.  As for many Israeli med-tech startups, time is a factor. Fact is, because of the size of the countries, there is access to a greater number of relevant patients at any given time…”

Traditional biopsies might lead to infections, according to the company. After a pap screening or HPV test, a colposcopy exam is ordered to verify results that Biop says may take as many as four biopsies and occur over the course of several months. Biop claims it can offer a more exact diagnosis in three minutes.

After the test, the company says its algorithms are able to forecast the progress of any developing cancer.

“This makes the technology an ideal tool for patients in the developing world where access to cervical cancer screening is poor,” Biop’s VP of Business Development Avi Rosenzweig said in a statement. “As a best in breed, Biop expects to improve the user experience as it relates to cervical cancer screening in the western world while saving lives in the developing world. The device offers a cost-effective diagnostic solution to improve care for healthcare providers everywhere.”

Startups targeting the cervical cancer diagnostics market

Biop's technique utilizes a number of technologies to speed up and refine cervical cancer diagnosis (image, courtesy)

Biop’s technique utilizes a number of technologies to speed up and refine cervical cancer diagnosis (image, courtesy)

The cervical cancer screening market will grow from $15 billion in 2014 to $22 billion in 2020 according to research by MarketsandMarkets. Another prominent Israeli startup MobileODT has been making waves by marketing a diagnostic app specifically for cervical cancer. It isn’t clear if that company, co-founded and led by CEO Ariel Beery, is as much a competitor as it is a complement to medical devices like Biop Medical’s. On-the-go screening MobileODT’s mobile colposcope might give enough reason to go for a more substantial test that could use something like Biop’s technology.

Landesman was incredibly optimistic about the industry as a whole.

“We believe the entire cancer screening and diagnosis market is moving towards utilizing optics and big data to provide determinant, real-time diagnosis of cancer and related diseases.” Landesman conceded to us that it might take time to reach that level, but his argument is boosted by the work of other companies in the space.

Other startups include SF-based Genentech, which has hosted a recent competition for data scientists to identify high-risk populations vulnerable to the cancer and one for startups offering innovative diagnostic and treatment solutions for the disease. AIndra, based in Bengaluru, uses computer vision to more accurately diagnose traditional pap smear tests.

“Biop’s optical technology can be converted into other delivery systems to help identify epithelium-based cancers internally as well, including oral, esophageal, anal, bladder etc.”

Founded in 2013, Biop keeps its headquarters in Tel Aviv’s sister city of Ramat Gan. The money will be put towards its clinical trials at Semmelweis University Hospital in Budapest, Hungary and at the Rabin Medical Center in Israel.

Photo courtesy: WikiMedia Commons

Lists

Top 10 tech startups clicking in Cardiff and Wales

Older than the Great Pyramid and Stonehinge, Cardiff carries the startup banner for most of Wales


Photo courtesy: Pixabay.com

Lists

Top 10 tech startups bustling in Belfast Ireland

The capital and largest city of Northern Ireland, birthplace of the RMS Titanic, and high-tech companies all help startups prosper


Smiling young business woman in Seoul downtown, South Korea. Photo Credit: LeoPatrizi

Smiling young business woman in Seoul downtown, South Korea. Photo Credit: LeoPatrizi

Entrepreneurship

Amazon is scared of Korea. But here’s how foreign entrepreneurs can succeed

Hint: It takes a little more than knowing 'Gangnam Style'


Bitcoin Source: Getty Images Israel

Bitcoin Source: Getty Images Israel

FinTech

Fintech and blockchain – a new wave of startups in the making?

Despite its relative infancy, blockchain technology is quickly proving its worth


Photo courtesy: Pixabay.com

Lists

Top 10 tech startups making progress in Minneapolis

A financial center that anchors the upper Midwest, Minneapolis and St. Paul spawn serious startups


Industry
mexico

mexico pd cc0 pixabay

Socially-focused startups tackle rural Mexico’s energy problems

Mexican startup companies are turning on the lights and treating water in the country's most impoverished regions


Industry
lima

lima pd cc0 pixabay

Endless Lima traffic spawns innovative startups

Let's talk about Lima


Industry

New concept: Booking meeting rooms at the heart of Tel Aviv by the hour

Meet in Place is a new venture that will allow you to book meeting rooms for 2 to 30 people at an hourly-based rate. Price: from 98 ILS for a classic room with coffee, soda and WiFi connection


Industry

Beginnings and beyond: a snapshot of Cisco’s investments in Israel 

When it comes to Cisco's history in Israel, it's easy to let the numbers tell the story of growth


Health
medtech

Entering a growing market: considerations for entrepreneurs in the field of digital health

With a market estimated to be worth $140 billion and expected growth to more than $400 billion in 2025, it is no wonder that many Israeli entrepreneurs are active in the thirst-for-innovation health sector. Still, many of them are closing down. We've prepared some tools to help you overcome the statistics


Security

Photo Credit: Tim Robberts / Getty Images Israel

4 Network Security Tips Progressive Small Businesses are Implementing

Network security isn’t a topic reserved for massive enterprises with a huge digital footprint. Even smaller businesses have to think about how they’re going to establish and monitor a network so they can be successful both now and in the future.


Entrepreneurship

Group of coworkers discussing project on digital tablet at office workstation Photo Credit: Thomas Barwick / Getty Images Israel

5 Tips for Diversify Your Portfolio as an Entrepreneur

diversification plays an important role in financial security so how can you diversify your assets for maximum ROI?


Security

Photo Credit: Colin Anderson Getty Images Israel

For Retail Startups, Security is Paramount



The Red Mail