Thursday, September 11, 2014

BATM to Invest in Israeli Medical Device Startup Opticul Diagnostics

BATM Advanced Communications Ltd. to invest up to $450,000 in the Israeli in vitro diagnostics medical device company, Opticul Diagnostics.

BATM provides real-time technologies for the networked telecoms and medical laboratory equipment markets. Opticul has developed a process for rapid diagnosis, using photonic laser technologies, of micro-organisms based on their outer morphology. The process - applied through the Optidet device - enables faster, lower cost and more reliable diagnostics compared with current technologies.

Opticul and BATM will conduct joint R&D in the U.S. and Israel to develop and launch the next prototype of Optidet. Of the agreed investment, $200,000 is being paid upfront in cash and the remainder as milestones are achieved. BATM will own 20% of the issued share capital of Opticul Diagnostics.

Opticul has already obtained US Food and Drug Administration (FDA) and European ISO approval for an early prototype. BATM CEO Dr. Zvi Marom said, "Opticul has invented a truly disruptive technology that is able to identify a type of bacteria in minutes instead of days. This investment is complementary to our diagnostics business and adds another technology offering to our portfolio."

Source: Globes

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