Welcome!

Artificial Intelligence Authors: Toddy Mladenov, Jason Bloomberg, Carmen Gonzalez, Dana Gardner, Liz McMillan

News Feed Item

Magenta Medical, Developer of Novel Heart Failure Therapy, Secures $4 Million in Seed Round from Pitango Venture Capital

TEL-AVIV, Israel, December 3, 2012 /PRNewswire/ --

Pitango completes first life sciences investment from its new fund;
Dr. David Israeli, Partner at Pitango, joins the Board of Directors

Magenta Medical, a medical device company, announced today that it has closed a $4 million seed investment round from Pitango Venture Capital.

Founded in October, 2012 by Prof. Ehud Schwammenthal and Mr. Yosi Tuval, Magenta Medical is developing a novel therapeutic approach to the treatment of Congestive Heart Failure (CHF).

Prof. Schwammenthal, a cardiologist, and Mr. Tuval, a mechanical engineer, were also the founders of Ventor Technologies, a former Pitango portfolio company that developed an innovative catheter-based system for the minimally invasive replacement of the aortic valve. Ventor was acquired for $325 million in 2009, 5 years after its inception, by Medtronic, Inc.

CHF has been described as an epidemic in the Western World, afflicting approximately 5.7 million people in the U.S. alone, with 670,000 new cases diagnosed annually.

(AHA, 2012 - http://circ.ahajournals.org/content/125/1/e2).

The economic burden of CHF is large and rapidly growing, with an estimated annual cost to the US economy of over $34 billion in 2010. This amount is expected to reach a staggering $57 billion by 2020.

(AHA, 2012  

http://circ.ahajournals.org/content/early/2011/01/24/CIR.0b013e31820a55f5.abstract)

Prof. Ehud Schwammenthal, Magenta's Co-founder and CEO: "Magenta was founded on the premise that CHF can be managed using a device that does not underestimate the complexity and the inter-patient variability of the disease. We have been enjoying a fruitful relationship with Pitango for many years, as is now reflected by their early support of Magenta.
Dr. Israeli brings relevant experience and expertise to the table, and we look forward to his joining our Board of Directors."

Dr. David Israeli, Partner at Pitango: "We are pleased to be making our first life sciences investment from Pitango VI. The firm continues to be committed to this sector, and believes in the potential of Israeli companies operating in the life sciences arena. Prof. Schwammenthal and Mr. Tuval have a proven track record as medical device entrepreneurs, and we are happy to collaborate with them once again. The magnitude of the problem they are tackling, in combination with the novelty and elegance of their approach, lead us to believe that Magenta can become a groundbreaking company in the treatment of CHF."

About Pitango Venture Capital (http://www.pitango.com)

Pitango Venture Capital, the leading venture capital firm in Israel, has been investing in technology entrepreneurs since 1993. With offices in Israel and Silicon Valley, California, Pitango currently manages several venture funds totaling over $1.5 Billion in committed capital invested in more than 150 companies to date, among them companies that have gone public or have been acquired such as Anobit, acquired by Apple (NASDAQ: AAPL); superDimension, acquired by Covidien;  Aeroscout, acquired by Stanley Healthcare Solutions; Provigent and Dune Networks, both acquired by Broadcom (NASDAQ: BRCM); Convergin (acquired by Oracle (NASDAQ:ORCL); Optonol, acquired by Alcon (NYSE:ACL); Ventor, acquired by Medtronic (NYSE: MDT).

Pitango invests in high-growth companies in various stages, from seed and early stages to growth and late-stage, and supports them as they grow. Pitango's investment focus includes: Communications; Networking & Storage; Wireless, Cellular and Mobile technologies; Enterprise Software, Internet and Media; Healthcare & Life Sciences, and Clean Technologies.

About Magenta Medical

Founded in October, 2012, Magenta Medical Ltd. is a privately held company that is engaged in the development of novel device solutions for the treatment of acute and chronic heart failure.

Media Contact:


Sharon Erde [email protected] +972-54-4848617.


SOURCE Magenta Medical Ltd

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet and...
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.