Israel-based developer of a disposable robotic system for the cathlab EndoWays, has announced the completion of an acquisition of a majority of its shares by Ascendum at an undisclosed cash amount.
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EndoWays acquired by Ascendum
EndoWays acquired by Ascendum
During its incubation time, EndoWays developed a first-of-its-kind, fully disposable robotic system to support navigation and operation within blood vessels in neurovascular, peripheral and cardiac procedures. The deal will provide EndoWays with access to the vast experience and network of the Ascendum team, helping accelerate its clinical and commercial development, especially in China.
Noam Shamay, EndoWays’ founder and CEO, said: “Our vision is to provide an easy to use and cost-effective tool for the cathlab that will facilitate difficult procedures and allow physicians to work accurately through tortuous blood vessels away from radiation. With the support of Ascendum’s experience and resources we can continue to make this vision a reality.”
Shamay will serve as the company‘s CTO post acquisition.
Serena Shao, Founder and Managing Partner from Ascendum, added: “EndoWays provides attractive competitive advantages that can accelerate entry of robotics into the cathlab, which we believe will be highly valuable to future clinical practice. After the closing, Endoways is going to move into the incubator of our strategic partner, DiNovA Medtech, based in Israel, to continue development until commercial launch.”
Professor Chaim Lotan, who will step in as EndoWays’ Chief Medical Officer, added: “The unique features of this robot can help navigate through torturous pathways and enable complex procedures. This, together with the reduced radiation exposure for the user through use of this system, makes this technology very attractive to interventional radiologists and cardiologists.”