Welcome!

News Feed Item

Domain Elite Makes First Investment in SMART Medical Systems to Advance Medical Devices for Gastrointestinal Medicine for Greater China

PRINCETON N.J., SAN DIEGO, BEIJING and RA'ANANA, Israel, April 25, 2014 /PRNewswire/ -- Domain Elite announces the collaboration's first investment in SMART Medical Systems, a developer and manufacturer of innovative endoscopy and colonoscopy products.  Domain Elite has invested $6.5 million, which is the first amount in a multi-phase investment plan in SMART, focusing on Greater China. Domain Elite was formed as a partnership between Domain Associates, a U.S. venture capital firm investing in breakthrough life sciences technologies, and Elite Consulting, consultants and financial advisors to the Chinese pharmaceutical and medical device industry, to bring the most advanced healthcare products and technologies to China. Part of the investment is allocated directly to SMART Medical's subsidiary in Hong Kong, to advance SMART Medical's platform of gastrointestinal (GI) medical devices for cancer prevention and endoscopic surgery in Greater China, including Hong Kong and Taiwan.

SMART’s flagship product, the G-EYE(TM) endoscope for colonoscopy, uses innovative balloon technology to uncover pre-cancerous polyps that are hidden behind natural folds of the colon to better detect colorectal cancer. SMART's CE-marked and FDA-cleared NaviAid(TM) product family is commercially distributed in key global markets.  SMART's G-EYE(TM) product (CE Marked, not yet FDA cleared) is presently under development and commercialization in selected regions, including the United States and Greater China.

"The mission of Domain Elite is to find the most effective medical technologies to fulfill important unmet medical needs and improve healthcare in China," said Brian Halak, partner at Domain Associates and founder of Domain Elite. "In so doing, Domain will create unique investment opportunities in the rapidly growing Chinese market. SMART Medical Systems has an innovative and well-validated technology that we believe accomplishes both goals."

SMART Medical Systems is the developer and manufacturer of several innovative medical devices that improve the diagnosis and therapy of GI disorders and diseases, most notably, colorectal cancers. SMART's flagship product, the G-EYETM endoscope, uses innovative balloon technology to uncover pre-cancerous polyps that are hidden behind natural folds of the colon. This product is currently marketed in Europe in partnership with Pentax Medical, a market leader in GI endoscopy. SMART Medical has additional products under development and commercialization, designed to allow standard endoscopes to access and visualize portions of the GI tract currently only accessible with the use of highly specialized equipment.

"Domain Elite offers a unique arrangement for SMART Medical to access significant experience and expertise to develop and commercialize medical devices in China," said Gadi Terliuc, CEO of SMART Medical Systems. "We will also use this new multi-step investment to advance our product platform in the United States and other global markets."

Delivering Innovative Technologies for the China Medical Device Market

In China, cancer has become the most common cause of death, and colorectal cancer is now the second most frequent cancer. Last year in Hong Kong, the Cancer Registry noted a doubling of colorectal cancer diagnoses over the past decade in the territory and warned that colorectal cancer is headed to become the most prevalent cause of cancer death in Hong Kong.  However, large survival differences are seen when access to screening technologies are available.  

"We have not only seen a significant need for endoscopy but also a substantial increase in use of endoscopy products in China," said Micah Zimmerman, partner at Elite Consulting and CEO of Domain Elite. "Working with SMART Medical Systems, we are advancing Domain Elite's mission to meet the need of the Chinese healthcare system for therapies that are more effective for the patient and less expensive for the medical system."

"For SMART Medical, this represents an important first step in Asia Pacific and a large opportunity to fill unmet medical needs in gastrointestinal medicine," said Misha Krakowsky, Executive Director of APAC for SMART Medical Systems. "Our portfolio of innovative endoscopy products fits many needs in both developed and emerging markets."

About SMART Medical Systems

SMART Medical Systems is a pioneer in the development and manufacture of innovative medical devices in the field of gastro-intestinal (GI) endoscopy. Its proprietary technology enhances the performance and capabilities of existing endoscopy equipment, in an intuitive and cost-effective manner. SMART's CE-marked and FDA-cleared NaviAid™ product family is commercially distributed in key global markets.  SMART's G-EYE™ product (CE Marked, not yet FDA cleared) is presently under commercialization in selected regions. SMART is headquartered in Israel, and operates in the United States through its wholly-owned subsidiary, SMART GI Inc., and in Greater China through its Hong Kong subsidiary, Medico HK Limited. For more information, please visit: http://www.smartmedsys.com.

About Domain Elite

Domain Elite is a partnership between Domain Associates and Elite Consulting to bring the most advanced healthcare products and technologies to China. The goal of the partnership is to establish new companies and joint ventures in China that will provide Western companies the financing, regulatory, medical, and marketing infrastructure needed to bring their breakthrough products to China. Target technologies will be mainly focused in the areas of medical devices and diagnostics.  The partnership is exclusive and it is envisioned to be the source of multiple emerging businesses in China over the course of several years. http://www.meetdomainelite.com.

About Elite Consulting and Elite Capital Advisors

Founded in 1997 by six Chinese executives from the pharmaceutical and diagnostics industry, Beijing Elite Management Consulting has an active client base of 1,200 domestic pharmaceutical and medical product companies in China. Elite Consulting provides sales and marketing management services, contract executive management, high-level SFDA experts and registration services, clinical development expertise, marketing research, and a partially owned sister company provides formulation, manufacturing, and cGMP consulting for international and domestic pharmaceutical manufacturers in China. Elite also is among the most active commercial due diligence providers in the China healthcare industry. Annually, Elite conducts diligence on more than $500 million of direct investment in the pharmaceutical, device, and hospital industries in China. Elite Capital Advisers provides mergers and acquisitions brokerage, facilitation, and capital investment to leading investors and multinational and domestic pharmaceutical companies. Elite Consulting is located in Beijing.  For more information, please visit http://www.bjelite.com.

About Domain Associates

Founded in 1985, Domain Associates, L.L.C. is a venture capital firm with an exclusive focus on investing in life science companies that advance human health. Domain's focused network, deep experience, and dependable reputation of this team have made it one of the top private-equity groups participating in healthcare investing. With $2.4 billion of capital under management, Domain invests in three major segments: pharmaceuticals, diagnostics, and medical devices. The partners of Domain have a total of close to 200 person-years of experience among them in the healthcare and venture capital industries and have been involved in the formation and growth of more than 250 life sciences companies. Representative past investments include Amgen, Amylin Pharmaceuticals, BiPar Sciences, Biosite, Dura Pharmaceuticals and Pharmion. (Domain has offices in Princeton, N.J. and San Diego. For more information, please visit http://www.domainvc.com.    

Photo - http://photos.prnewswire.com/prnh/20140424/78303

SOURCE Domain Associates

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.

Latest Stories
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
DevOps is not just last year’s buzzword. Companies with DevOps practices are 2.5x more likely to exceed profitability, market share, and productivity goals. But how do you enable high performance? What can you do right now to start? Find out from DevOps experts including Gene Kim, co-author of "The Phoenix Project," and the Dynatrace Center of Excellence.
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, will give users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion w...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
SYS-CON Events announced today that Column Technologies will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Established in 1998, Column Technologies is a global technology solutions provider with over 400 employees, headquartered in the United States with offices in Canada, India, and the United Kingdom. Column Technologies provides “Best of Breed” technology solutions that automate the key DevOps principal...
The Art of DevOps provides a fun overview to help teams understand DevOps. Written in the style of the famous 6th century Chinese manuscript “The Art of War,” this eBook describes DevOps in the form of a mission to continuously deliver assets to the operational battlegrounds safely, securely, and quickly. It’s a fun read with valuable insights.
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.