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Jerusalem Global Ventures Invests $2 million in UltraGuide May 2001: Dr. Dalia Megiddo, Managing Partner of Jerusalem Global Ventures responsible for the for the fund's Life Sciences division, announced today that Jerusalem Global Ventures invested $2 million in UltraGuide as part a $11.5 million round for the company. Dr. Megiddo said that the advanced medical technology developed by UltraGuide in the field of medical guidance systems, the professional management, and the growth in sales by the company, all contributed to the decision to invest in this company. Megiddo also stated that Jonathan Adereth, a Venture Partner in the Life Sciences Division of Jerusalem Global Ventures, will serve on the board of UltraGuide on behalf of the fund. This appointment is in addition to a number of positions held by Mr. Adereth, including: Chairman of the Board and CEO of Carmel Biosensors, Member of the Board of Medivision Medical Imaging Ltd., Eliav Medical Imaging Systems Ltd. and MagnaLab, Inc. He is the founder and major shareholder of Techbridge Medical, a worldwide distribution network for medical products developed in Israel. About UltraGuide: UltraGuide, incorporated in 1996, is an Israeli medical device company, with R&D facilities in Haifa, that currently employees 50 people. UltraGuide develops, manufactures and markets innovative guidance systems for interventional and minimally invasive procedures performed under ultrasound, CT and MRI. The guidance systems, together with medical imaging devices the company developed, enable images acquired by existing devices to be viewed by the clinician in a 3-dimentional plane. UltraGuides flexible platform allows various imaging modalities to be used in combination. The same system can combine CT-directed guidance with real time ultrasound. The CT Guide developed by UltraGuide is a non-radioactive imaging device. In October 2000 UltraGuide received FDA approval to supply CT based guidance systems, which allow the physician to accurately reach the potential tumor and perform the biopsy. For more information: www.ultraguideinc.com About Jerusalem Global Ventures: Jerusalem Global Ventures (JGV) is a $200 million group of early stage venture capital funds, focused on telecommunications, 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. JGV's investors include: America Online, NDS, Comverse, Telecom Italia, Agilent Technologies, Motorola, Conexant, Bausch & Lomb, and others. Jerusalem Global Ventures has offices in Israel and the United States. Back to Press Releases |
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