Israeli startup CAPS Medical, developer of a non-invasive tumor treatment based on “cold” plasma use, announces a $3.5 million Series A funding round. The investment was led by property management company Chasing Value and Israeli Investment Fund Group. The round also saw participation from the Technion R&D Foundation as well as from Israeli startup XACT Robotics - which aims to integrate CAPS Medical’s technology in its in-body robot.
Using plasma to attack solid tumors
CAPS Medical has developed a treatment, utilizing “cold” plasma to fight solid tumors. The plasma contains only a small portion of ionized particles, allowing it to be stored at room temperature. The treatment is non-invasive and aims to damage the cancerous cells without harming the healthy tissue surrounding the tumor.
The company explains that by utilizing “cold” plasma technology it can attack and kill cancer cells, while also creating an immune system response that targets cancer cells in the body.
The initial development of the treatment started at the Technion’s plasma lab with cooperation from one of the biggest hospitals in Israel - Rambam Hospital. The treatment was developed under CAPS Medical’s technical team, led by CEO Ilan Uchitel, and today the product flies under the MEDX Xelerator.
The company was founded in 2018 by Uchitel and Dr. Jacob Cohen - a surgeon focusing on cancer-related surgery at the Rambam Hospital in Haifa, Israel. The Israel-based company tells that the investment funds will go towards conducting initial clinical trials, while also focusing efforts on the further development of the product, as well as adapting it to treat other solid tumors.
Uchitel responded to the funding round, saying: “With the strength of our new investors and the close collaboration with XACT Robotics, we pledge to expand solid tumor treatments with an accurate and non-invasive treatment in order to improve the cancer care process.”