MeMed, a leader in host response technologies, today announced a $93 million private financing round. The latest financing brings together new and existing investors including Horizons Ventures, Shavit Capital, Social Capital, La Maison Partners, Touchwood Capital, Caesara Medical Holdings, Union Tech Ventures, ClaI Insurance, Phoenix Insurance, Poalim Equity and Western Technology Investment.
MeMed’s technology suite decodes the body’s immune response within minutes, providing physicians with important patient management solutions that tackle key clinical dilemmas. Their goal is to translate the immune system's complex signals into simple insights that transform the way diseases are diagnosed and treated, which can profoundly benefit both the patients, doctors, and society. The U.S. Food and Drug Administration (FDA) recently granted a landmark clearance for the use of the MeMed BV® test, their test that distinguishes between bacterial and viral infections that is both double-blind and externally validated, on the point-of-need platform MeMed Key®. It will essentially help healthcare providers distinguish between bacterial and viral infections in both children and adults. MeMed has also developed the MeMed COVID-19 Severity™ test for predicting severe outcomes in COVID-19 patients, which has been cleared for use in Europe.
As Patrick Zhang from Horizons Ventures, one of MeMed’s investors stated, “We strongly believe that MeMed’s strategy of using host-immune response- technologies is a significant advance in the improvement of two major issues in healthcare today: the rise of antimicrobial resistance due to unnecessary prescription of antibiotics and effectively triaging patients infected with COVID-19. We look forward to playing a role in how MeMed, a category leader in this area, is transforming the way diseases are diagnosed and treated to improve patient healthcare across the globe.”
Funds will be used to scale up manufacturing, accelerate commercialization and expand MeMed’s pioneering host immune response product portfolio.
MeMed was founded in 2009 by Eran Eden and Kfir Oved. This latest round of funding brings the total amount raised, both from investors and government grants, to over $200 million, including support from the U.S. Department of Defense and the EU Commission.