- Total financing for market launch and penetration surpasses $9 million mark
- Breakthrough “FIZE kUO™” device for monitoring real-time kidney urine output to enter hospitals in 1Q22
MODI’IN, Israel, December 2, 2021 – FIZE Medical Ltd. FIZE an innovative provider of data derived from monitoring real-time urine output, announced today the closing of $4 million Series A-1 funding. With the financing, FIZE has raised a total of over $9 million in Series A rounds. Rapha Capital Management and the Mendham Investment Group (MIG) led the latest round.
FIZE has developed a groundbreaking platform technology for monitoring patients based on kidney, rather than the more commonly measured bladder, urine output (“kUO”). The first in the Company’s pipeline of planned products is the soon-to-be-launched FIZE kUO™, a breakthrough device that monitors and analyzes real-time kUO. FIZE’s products are initially designed for use in operating rooms, and hospital wards including burn and intensive care units. Expanded use will include providing real-time urine output during and after urological procedures. FIZE plans to expand its product portfolio to remote home and nursing home usage.
“FIZE kUO™ will enable critical care providers to leap into the future,” said Dror Zerem, FIZE CEO and a former executive at Ophir Optronics. “Complemented by our next-generation FIZE kUO PLUS, FIZE kUO not only enables real-time monitoring of urine output, but also provides associated data obtained noninvasively from the urine.”
Next in the pipeline, the FIZE dUO™, a more advanced dual channel device that monitors and manages both urine output and fluid inflow commonly used in Continuous Bladder Irrigation, often implemented after prostate and bladder transurethral surgery, and Percutaneous Nephrolithotomy procedures of the kidney, will provide Urologists with enhanced ease of use and patient safety. “Our line of products not only enables significant operational enhancements, but also opens the door to new clinical considerations not previously even contemplated by physicians,” Zerem added. “Urine-related real-time data will finally be available and fed into AI algorithms, assisting physicians in making the best decisions regarding their patients’ overall management. We are excited to conclude this round at exactly the right time, as we transition from R&D to manufacturing and commercialization, starting with pilots in Israel and the US in early 2022.”
About FIZE Medical
FIZE Medical provides a cutting-edge platform to measure in real time the key indicators of a patient’s health status based on urine output. FIZE’s platform anchors a product portfolio comprising FIZE kUO, FIZE dUO, and FIZE kUO PLUS™. Poised to advance the delivery of healthcare significantly without increasing costs, FIZE’s technology integrates with EMR and other systems. This enables the Company’s integrated AI algorithms to predict patient deterioration and assist in adjusting treatments. FIZE Medical is headquartered in Modi’in, Israel. For more information, visit www.fizemedical.com or email ir@fizemedical.com.
About Rapha Capital Management
Rapha Capital Management, LLC (http://raphacap.com) is an investment management firm located in Miami, Florida, that focuses on identifying and managing strategic investments in early stage, non-public biotechnology companies. Rapha Capital was founded by President Dr. Kevin Slawin, an experienced oncologic and robotic surgeon, biotech consultant, investor, and entrepreneur focusing on oncology, T cells, immunotherapy, and other breakthrough healthcare technologies. Dr. Slawin is also founder of Bellicum Pharmaceuticals, a publicly traded company on NASDAQ. He is co-inventor of the FDA-approved prostate health index (phi) test licensed and marketed by Beckman Coulter and utilized worldwide.
About Mendham Investment Group
The Mendham Investment Group (MIG) is an investment group comprised of senior-level executives from the pharmaceutical, biotechnology and other healthcare industries. MIG is led by Dr. Michael Ingber, Director of The Center for Specialized Women’s Health at Garden State Urology.
