Israeli Medical Company Endobetix Raises $2.5M

Israeli medical company Endobetix, which developed an implant to treat for type 2 diabetes, has raised $2.5 million. Endobetix is developing a nonsurgical implant that mimics the hormonal benefits offered by bariatric surgery, usually given to diabetic, obese people. The company’s product, which costs $5,000, may replace the irreversible, $30,000 surgical procedure. The company is part of the Misgav Venture Accelerator, which serves Israeli medical startups.