Israeli biomedical company Epitomee Medical, which develops treatments to combat obesity and weight-related diseases, announced the closing of an $8 million equity financing led by XT Hi-Tech, with participation from other investors including GCB and Dr. Shimon Eckhouse, Epitomee’s co-founder and chairman.
The company, founded in 2005, developed self-administered capsules to treat glycemic control, weight reduction, and hypertension.
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Epitomee said its capsule “contains a shape-shifting scaffold” that “works on the stomach itself by direct mechanosensory stimulation,” and taken twice a day, it helps the body have an “early sensation of fullness and prolonged gastric emptying, which results in lower daily caloric intake and subsequent weight loss.”
The company said that an initial clinical study “met its goals and demonstrated weight loss and improvement in glycemic control, ameliorating blood pressure levels with no safety concerns within 12 weeks of treatment.” An additional study is will test the technology in overweight, obese and prediabetic patients over a 24-week trial period.
“The Epitomee Capsule has the potential to be the first-line, drug-free treatment for overweight, prediabetic, and moderately obese people. We are excited that it is well received and that patients and physicians see excellent and consistent results in our clinical work” said Epitomee CEO Dr. Dan Hashimshony. “With the current financing, we can advance the clinical program and bring the company’s solutions closer to the millions of patients in need.”
Dr. Eckhouse said: “The Epitomee solution is a novel practical approach in the fight against the global obesity epidemic. The combination of a simple, self-administered capsule and a high degree of safety and effectiveness makes it an optimal solution to this epidemic.”