Welcome!

Weblogic Authors: Elizabeth White, Michael Meiner, Michael Bushong, Avi Rosenthal

News Feed Item

Magenta Medical, Developer of Novel Heart Failure Therapy, Secures $4 Million in Seed Round from Pitango Venture Capital

TEL-AVIV, Israel, December 3, 2012 /PRNewswire/ --

Pitango completes first life sciences investment from its new fund;
Dr. David Israeli, Partner at Pitango, joins the Board of Directors

Magenta Medical, a medical device company, announced today that it has closed a $4 million seed investment round from Pitango Venture Capital.

Founded in October, 2012 by Prof. Ehud Schwammenthal and Mr. Yosi Tuval, Magenta Medical is developing a novel therapeutic approach to the treatment of Congestive Heart Failure (CHF).

Prof. Schwammenthal, a cardiologist, and Mr. Tuval, a mechanical engineer, were also the founders of Ventor Technologies, a former Pitango portfolio company that developed an innovative catheter-based system for the minimally invasive replacement of the aortic valve. Ventor was acquired for $325 million in 2009, 5 years after its inception, by Medtronic, Inc.

CHF has been described as an epidemic in the Western World, afflicting approximately 5.7 million people in the U.S. alone, with 670,000 new cases diagnosed annually.

(AHA, 2012 - http://circ.ahajournals.org/content/125/1/e2).

The economic burden of CHF is large and rapidly growing, with an estimated annual cost to the US economy of over $34 billion in 2010. This amount is expected to reach a staggering $57 billion by 2020.

(AHA, 2012  

http://circ.ahajournals.org/content/early/2011/01/24/CIR.0b013e31820a55f5.abstract)

Prof. Ehud Schwammenthal, Magenta's Co-founder and CEO: "Magenta was founded on the premise that CHF can be managed using a device that does not underestimate the complexity and the inter-patient variability of the disease. We have been enjoying a fruitful relationship with Pitango for many years, as is now reflected by their early support of Magenta.
Dr. Israeli brings relevant experience and expertise to the table, and we look forward to his joining our Board of Directors."

Dr. David Israeli, Partner at Pitango: "We are pleased to be making our first life sciences investment from Pitango VI. The firm continues to be committed to this sector, and believes in the potential of Israeli companies operating in the life sciences arena. Prof. Schwammenthal and Mr. Tuval have a proven track record as medical device entrepreneurs, and we are happy to collaborate with them once again. The magnitude of the problem they are tackling, in combination with the novelty and elegance of their approach, lead us to believe that Magenta can become a groundbreaking company in the treatment of CHF."

About Pitango Venture Capital (http://www.pitango.com)

Pitango Venture Capital, the leading venture capital firm in Israel, has been investing in technology entrepreneurs since 1993. With offices in Israel and Silicon Valley, California, Pitango currently manages several venture funds totaling over $1.5 Billion in committed capital invested in more than 150 companies to date, among them companies that have gone public or have been acquired such as Anobit, acquired by Apple (NASDAQ: AAPL); superDimension, acquired by Covidien;  Aeroscout, acquired by Stanley Healthcare Solutions; Provigent and Dune Networks, both acquired by Broadcom (NASDAQ: BRCM); Convergin (acquired by Oracle (NASDAQ:ORCL); Optonol, acquired by Alcon (NYSE:ACL); Ventor, acquired by Medtronic (NYSE: MDT).

Pitango invests in high-growth companies in various stages, from seed and early stages to growth and late-stage, and supports them as they grow. Pitango's investment focus includes: Communications; Networking & Storage; Wireless, Cellular and Mobile technologies; Enterprise Software, Internet and Media; Healthcare & Life Sciences, and Clean Technologies.

About Magenta Medical

Founded in October, 2012, Magenta Medical Ltd. is a privately held company that is engaged in the development of novel device solutions for the treatment of acute and chronic heart failure.

Media Contact:


Sharon Erde [email protected] +972-54-4848617.


SOURCE Magenta Medical Ltd

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.

@ThingsExpo Stories
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
SYS-CON Events announced today that Catchpoint, a leading digital experience intelligence company, has been named “Silver Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Catchpoint Systems is a leading Digital Performance Analytics company that provides unparalleled insight into your customer-critical services to help you consistently deliver an amazing customer experience. Designed for digital business, C...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, discussed the best practices that will ensure a successful smart city journey.
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.