By: Omer Zelka
CEO
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ElastiMed

ElastiMed developed a wearable device designed to improve leg circulation, to treat venous and lymphatic diseases. The patented invention is expected to treat swelling, prevent DVT, reduce sports recovery time and improve the lives of millions worldwide.

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Days to go
Minimum investment: $15,000
Type:Equity   
Stage:Seed +
Category:Medical Devices
•  Overfunding - Over 100%    
  • Campaign Highlights
  • Pitch
  • Team
  • Financial data
  • The Deal
  • Documents
  • Disclosures
  • Updates

Campaign Highlights

On the verge of FDA filing and additional significant breakthroughs

With a working device, one granted patent for its inventive technology, and four additional pending patent applications, ElastiMed is on the brink of a major breakthrough. ElastiMed’s solution is based on smart material technology called EAP or artificial muscle, allowing the device to have a sleek design, quiet and battery operated. The device is designed to apply a highly effective clinical treatment throughout the day, without disturbing the patient’s normal life, as demonstrated in a succesful initial clinical study, showing impressive comparative results, on healthy subjects. Furthermore, with an upcoming planned clinical trial in the next few months, followed by an expected simple FDA filing process, ElastiMed’s product is ready to take off.

 

Advanced solution for millions worldwide

Over 14M people in the developed world suffer from painful and swollen legs due to poor circulation. However, current solutions are uncomfortable, costly or suffer from limited effectiveness in most cases. The standard of treatment for these patients is primarily compression stockings, which suffer from 60% non-compliance, due to a tight fit and difficulty in putting them on and taking them off. A much more expensive alternative is pneumatic compression devices – inflatable sleeves powered by an air compressor. These devices, while effective, are typically cumbersome, noisy and heavy, thus limiting the patient’s mobility and causing discomfort. ElastiMed created a comfortable and smart wearable device which offers an affordable alternative in this billions of dollars market. Without any marketing efforts, ElastiMed has generated interest from hundreds of patients all over the world, asking when and where they can buy the device.

 

 

Significant investments by leading industry players

ElastiMed has gained significant accomplishments early on raising significant sums from IIA, Horizon 2020 and additional investors. Among the company’s investors are Trendlines Medical Incubator, Pix Vine capital and one of the leading providers of compression therapy solutions.

 

 

Huge market with many followup market opportunities

The device is designed to also be used for a variety of additional indications. For example,  to reduce recovery time after a workout or sports injury, prevent swelling after sitting down for an extended period (long flight or at the office), treat chronic wounds and to prevent blood clots from forming. The device can also potentially be adjusted to treat the full leg and the arm, and to address different types of circulation problems.

 

Credit: NormaTec Recovery

 

Strong and highly motivated team with a world-class advisory board

ElastiMed’s founder and CEO, Omer Zelka, is a smart material enthusiast and an entrepreneur in heart. He has an extensive experience with electro–active materials, and together with a growing, highly versatile and experienced team, Omer recruited to the company’s board of directors global leaders in their field, holding a proven track record of several exits. Furthermore, the advisory board contains a leading material expert, and leading physicians in Israel, Germany and the U.S.. Existing investors, including Omer Zelka himself, are participating in the upcoming financing round.

 

 

Pitch

The idea

Today, there is a clear need for an easy-to-wear & mobile active compression device to treat lymphatic and venous diseases in the lower extremities. Compression stockings, the gold standard of care, suffers from limited effectiveness and over 60% of non-compliance from patients, due to their tight fit and difficulty in putting them on and taking them off, a task problematic especially for the elderly, obese, and arthritis sufferers.

A much more expensive alternative are pneumatic compression devices. These devices use an inflatable sleeve (garment) to massage the patient’s legs, mimicking rhythmic calf muscle contractions. Today’s garments are cumbersome and have noisy compressors and heavy air pumps, which limit the patient’s mobility and cause discomfort.

As a result, the common solutions in this global market are either too expensive, difficult to use, or both.

 

The solution

ElastiMed has developed a wearable medical device, which is designed to improve circulation in the legs for the treatment of venous and lymphatic diseases. Based on proprietary technology that utilizes innovative smart materials, ElastiMed’s battery-operated device continuously massages the legs throughout the day. 

The device is designed to provide a comfortable, easy-to-wear and effective treatment option to treat leg swelling, ulcers, prevent blood clots and reduces recovery time. This was demonstrated in a recent initial clinical study on 11 healthy subjects, showing an average increase of the peak flow velocity by 141% after 30 minutes of usages. These results are similar to findings from standard pneumatic compression devices. In addition, without any marketing efforts, ElastiMed has generated interest from hundreds of patients all over the world, asking when and where they can buy the device.

 

The technology

ElastiMed’s technology is based on a solution to manipulate a smart material called EAPs (Electro Active Polymers) or artificial muscles. EAPs are based on soft plastics, which have the capability of changing their size according to an electric pulse. ElastiMed has developed a process to produce an artificial muscle-based strap which functions like a thin rubber band that stretches and contracts according to an electrical pulse. Wrapping the strap around the leg converts the contraction into compression. When using three/four parallel EAP straps, and activating them sequentially, the patient’s leg is massaged and squeezed in an upwards direction, designed to stimulate circulation. Future development is expected to include Bluetooth connectivity, which allows for personalized treatment, biofeedback getting the patient involved and in control of his condition, big data analysis to optimize treatment and remote monitoring of the leg’s condition by caregivers.

 

 

The product is expected to be superior to medical compression stockings as it is

  • Easier to wear and take off
  • Comfortable to use
  • More clinically effective

The product is expected to be superior to pneumatic compression devices as it is

  • Mobile
  • Convenient
  • Quiet
  • A much lower price

The product is expected to be superior to both pneumatic and compression stockings, as it is connected, allowing for

  • Personalized treatment
  • Continuous feedback, getting the patient more involved and in control of the treatment
  • Data analysis – optimizing treatment
  • Compliance tracking

Interview with Dr. Thomas Serena, Founder & CEO of the SERENA GROUP;  former president of the AAWC (Association for the Advancement of Wound Care)

 

 

 

Team

Omer Zelka
Founder & CEO
Biography
Omer is a former DA Engineer at Intel with extensive experience in smart materials. He developed the concept, on which ElastiMed is founded on, in an improvised lab in a small apartment in Tel-Aviv. Since then, Omer, together with a growing, highly versatile and experienced team, managed to turn that concept into a working product, with the potential the improve the quality of life of millions of people. Omer holds a B.Sc Electrical and Computer Engineer from Ben Gurion University.

  • Founder
Vered Shuster Ben-Yosef
R&D Lab manager
Biography
Vered is the R&D Lab manager of ElastiMed and responsible for the daily operations of the company. Vered holds a Ph.D. in Biotechnology from the Technion and has extensive experience in the medical device and pharmaceutical industry. Her experience includes leading and managing R&D projects which involved prototype developing and analytical methods developing under international standards.

Shai Buber
Executive Board member
Biography
Shai is an experienced hands-on angel investor. Formerly Shai served as General Manager (Israel) and SVP at Paradigm (a global leader in software solutions for the upstream segment of the oil & gas industry - www,pdgm.com) that was sold to Apax for ~$1B in 2012. Prior to that, Shai served as CEO of Odigo, (a messaging app) that was acquired by Comverse for $20M in 2002. Shai also served as a corporate attorney at Skadden Arps, NYC. Shai holds a LLM (NYU) & LLB (Hebrew University)

Ran Bronstein
Board Member
Biography
Ran is the co-founder and CEO of Simbionix, a world leader medical simulators manufacturer, acquired in 2014 by 3D Systems for $140M. Ran has vast managerial, operational and development experience. Ran holds a M.Sc Computer Science & Mathematics from the Hebrew University.

Todd Dollinger
Board Member
Biography
Todd serves as the Chairman of Trendlines Medical Singapore and as Investment Committee chair of Trendlines Incubators Israel. As well, Todd is a director and chairman of a number of Trendlines’ portfolio companies. He founded The Trendlines Group with Steve Rhodes in 2007 and shares the positions of Chairman and CEO of Trendlines with Steve. Together, they lead the Group’s strategy. Todd Dollinger brings decades of entrepreneurial experience.

Moshe Halak MD
Advisory Board Member
Biography
Dr. Moshe Halak MD, is the Director of the Department of Vascular Surgery. He is a B.Med.SC and MD graduate with honors from the Faculty of Medicine, Technion Institute, Haifa. He is a qualified General and Vascular Surgeon, who has completed his specialization in Israel and in USA. The Department of Vascular Surgery at Sheba Medical Center led by Dr. Halak is engaged in clinical activities, research, and educational functions.

Thomas Serena MD
Advisory Board Member
Biography
Vascular Surgeon; CEO & Founder of SerenaGroup® a family of wound, hyperbaric and research companies; Past President of AAWC (Association for the Advancement of Wound Care); Past President of the American Professional Wound Care Association. VP of American College of Hyperbaric Medicine.

Financial data

The Deal

Documents

Disclosures

Updates

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The financing rounds made through the ExitValley platform are in accordance with a model of statutory exemption from publishing a prospectus pursuant to sections 15A(A)(1) and 15A(A)(7) to the Israeli companies law - 1965.
Under our model, the disclosure of detailed information on the company and information about the investment in each round of financing are limited to not more than 35 investors which are not qualified investors and the round of financing in not in the format of an offering arrangement ("רכז הצעה") as defined in the securities law
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