Israel: Epitomee Medical announced $51 million IPO on the Tel Aviv Stock Exchange

Epitomee Medical (TASE: EPIT), the Israel-based bio-medical company, announced this morning the completion of its Initial Public Offering on the Tel Aviv Stock Exchange: The company raised $51 million from institutional investors, including leading insurance companies. The offering was made at a pre money valuation of $200 million on fully diluted basis. (…)

Epitomee’s stock will start trading in the coming days under the symbol EPIT. The offering was led by  Leumi Partners and Barak Capital. Among the major shareholders who led the previous round of investments is XT. Hi-tech and companies related to Udi Angel and Idan Ofer.

In August 2020, Epitomee and Nestle signed an exclusive co-development and marketing agreement under which the parties co-develop the product and take it to the market and Nestle Health Science will market the capsule exclusively worldwide.

Epitomee is a biomedical company that  has developed ingestible technology platform that enables the creation of swallowable medical devices aimed to act along the GI tract to achieve therapeutic outcomes in highly prevalent diseases. Epitomee’s first product is drug-free, self-administered shape-shifting Capsule which aims to prevent diabetes, address obesity-related comorbidities, and establish a healthier lifestyle.”

Source/Sender: Epitomee (shortend, adapted by VonNaftali)

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