 |
 |
|
|
 |
 |
 |
 |
 |
 |
 |
| Press Releases |
| Portfolio News |
| JGV in the News |
|
|
||
|
NEW HOPE FOR LIFE WITHOUT NEEDLES FOR DIABETICS? Jerusalem Global Ventures InnoMed Fund Invests $3.6 Million in Glucon Inc December 2000: Jerusalem Global Ventures today announced an investment of $3.6 million in Glucon, Inc., a seed-stage company developing an innovative, non-invasive technique for the measurement of blood elements and components. This process facilitates home-based, continuous monitoring of glucose for diabetics. Jerusalem Global Ventures is a $200 million group of seed-focused venture capital funds. The investment was carried out through JGV's InnoMed fund, which specializes in life sciences and medical devices. Glucon's new product, a non-invasive blood glucose monitor, will eliminate the discomfort of needles and the inconvenience of fluid collection while supplying accurate, real time glucose monitoring results for patients and physicians alike. Glucon's founders are Ron Nagar and Dr. Benny Pesach. Nagar served as a senior manager of a successful medical device start-up, and Dr. Pesach is a graduate of an engineering unit in the Israel Defense Forces. InnoMed Managing Partner Dr. Dalia Megiddo stated, "InnoMed, true to the venture model, provides Glucon's entrepreneurs with initial financing and continuing support to achieve the company's goals. With InnoMed's 'Start- Up Acceleration' services backing Glucon's extensive technology know-how, Glucon is now well-positioned to reach its ambitious milestones." Glucon's Nagar added, "We are proud to have the professional backing of the InnoMed fund of Jerusalem Global Ventures. InnoMed's network of strategic investors and advisors from Bauch & Lomb, Tyco, Harvard/MIT and others, will enable us to accelerate the development and marketing of our technology, which will bring relief and enhanced quality of life to potentially millions of diabetics world-wide." About Jerusalem Global Ventures: Jerusalem Global Ventures (JGV) is a $200 million group of early stage venture capital funds, focused on telecommunications infrastructure, Internet-enabling technologies and medical devices. JGV's partners have proven track records in building and managing successful high technology enterprises, and JGV's investors include many of the world's leading hi-tech companies and financial institutions, as well as individual executives from premier companies. Jerusalem Global Ventures has offices in Israel and the United States. Jerusalem Global Ventures, Last Month's Investments: Inventis: $2.6 million investment through InnoMed (medical devices and life sciences). Optichrom: $5 million investment through CommLaunch (telecommunications infrastructure). Back to Press Releases |
|