Remote monitoring of cardiovascular diseases funded by horizon 2020
Vectorious Medical Technologies was conceived in 2011 in the RAD BioMed technological incubator backed by the Innovation Authority. The company offered a groundbreaking solution for remote, continuous, precise, and safe monitoring of patients suffering from cardiovascular disease – one of the leading causes of death worldwide.
The inimitable technology enables the implantation of a microcomputer for battery- free communication. Thus far, the company has raised over $10 million, including a $2.25 million grant from the European R&D program Horizon 2020 and the Innovation Authority. The exclusive grant has helped the company recruit additional investors and accelerate development and clinical trials.
The company is currently conducting trials on human subjects in Germany, England, Italy and Israel, on its way to receiving the necessary regulatory approvals and to market the product. The company projects that the development will reach the European market within roughly six months.
Another accomplishment spurred by ISERD through its participation in the Horizon 2020 program, in collaboration with the Authority’s division of growth, is making funding tools included in the InnovFin initiative (EU Finance for Innovators) of the EIF (European Investment Fund) for Israeli companies and entrepreneurs. The EIF issued a guarantee for Bank Leumi for a credit portfolio valued at $200 million allocated to loans for SMEs (small and medium-sized enterprises) in the fields of innovation. At the same time, the fund served as an anchor investor in an Israeli venture capital fund targeting investments in early-stage startups. It has invested about $20 million and has signed an agreement for matching funds with angels or superangels in Israel valued at a total of $15 million.