crescent enterprises venture capital enters medtech sector
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Crescent Enterprises Venture Capital enters MedTech Sector

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Crescent Enterprises Venture Capital enters MedTech Sector

Crescent Enterprises, UAE-based multinational company,
Sharjah - Wam

Crescent Enterprises, UAE-based multinational company, has announced the successful closing of its investment in ColubrisMX and XCath, two next-generation micro-robotic medical device companies through its newly launched corporate venture arm, Crescent Enterprises Venture Capital, CE-VC.

Developed at the University of Texas Medical School’s Microsurgical Robotics Laboratory and incorporated in Texas, United States, US, both companies design and develop next-generation robotic technologies that are expected to revolutionise healthcare development in their respective fields.

Leading the Series A round of funding with a total of US$16 million, CE-VC will be funding the manufacturing of prototypes of the medical devices under development by ColubrisMX and XCath in conjunction with co-investors. The funding will also aid in testing and clinical studies outside the US.

ColubrisMX is developing a state-of-the-art, minimally invasive, microsurgical robotic device that can treat life-threatening conditions such as fetal malformations and brain abnormalities through microsurgery.

XCath, on the other hand, is developing next-generation steerable robotic micro-catheters for treating endovascular conditions such as cerebral strokes. With microsurgical robotic devices, patients can be treated remotely, especially those who live in parts of the world where special surgical procedures are not otherwise readily accessible.

The founder of ColubrisMX and XCath, Daniel H Kim, MD, is a distinguished professor of neurosurgery at the University of Texas in Houston. Under his leadership, both as a doctor and inventor, a team of highly qualified computer scientists, robotics engineers and health practitioners, have come together to work on devices that push the boundaries in medical science technology.

Badr Jafar, CEO of Crescent Enterprises, said, "At Crescent Enterprises, our operating and investment history in healthcare demonstrates our commitment to technological advancement and innovation. The launch of CE-VC, which is committed to supporting early-to-later stage start-ups validates this priority. In addition to ColubrisMX and XCath, CE-VC has invested in a wide range of technology-driven start-ups over the last two years."

"We are excited to enter the healthcare technology market, and to work with Dr. Kim and his brilliant team to set new benchmarks for innovation in medical technology. Through this investment, we hope to build an ecosystem that encourages similar levels of research and development in the field of medical science in the region. The healthcare industry across the GCC has witnessed substantial growth as well as a shift toward medical technological innovation and we look forward to collaborating with medical practitioners and technologists in the region to identify new avenues for growth."

For his part, Dr Daniel H. Kim said, "We are delighted to welcome Crescent Enterprises into our fold. Crescent’s investment into ColubrisMX and XCath at a critical time of the development of the prototypes will help take it to the next level of manufacturing the devices and accelerate their entry into the market. The faith shown by Crescent and other investors in ColubrisMX and XCath demonstrates not only the commercial potential of the products but also the business model that we have in place. Going forward, our collaboration will help establish the two companies as leaders in the field, pushing the frontiers of cutting-edge medical technology."

Source: Wam

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

crescent enterprises venture capital enters medtech sector crescent enterprises venture capital enters medtech sector

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

crescent enterprises venture capital enters medtech sector crescent enterprises venture capital enters medtech sector

 



GMT 05:14 2024 Wednesday ,07 February

Sophisticated Classic Dining Room Design Ideas

GMT 16:17 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences

GMT 05:06 2024 Tuesday ,06 February

New hunt for flight MH370 gets under way

GMT 07:37 2018 Sunday ,14 January

Spanish tax authorities scrutinise Messi foundation

GMT 02:17 2017 Thursday ,29 June

Abu Dhabi tenants may continue

GMT 12:29 2012 Monday ,27 February

Melting glaciers cause trouble for water suppliers

GMT 11:16 2018 Tuesday ,23 January

Oil slick off China coast trebles in size

GMT 21:46 2018 Monday ,08 January

Bahrain, Tunisia discuss youth, sport cooperation

GMT 19:39 2017 Friday ,12 May

Algerian member of Change

GMT 10:08 2017 Monday ,16 October

Smashbox launches Holiday 2017 Collection

GMT 05:44 2016 Monday ,04 July

Libya's oil authorities agree to unify ranks

GMT 14:33 2017 Saturday ,02 September

Eid Al Adha: A day of blessing and togetherness

GMT 15:39 2016 Tuesday ,27 September

Cambodia's garment, shoe export up 8.3% in 7 months

GMT 12:48 2016 Sunday ,21 August

Qatar Stock Index Drops 22.89 Points

GMT 16:10 2017 Sunday ,26 February

British FM Johnson talks trade with Egypt’s Sissi

GMT 11:06 2016 Saturday ,03 September

Hamilton maintains Monza momentum over Rosberg

GMT 22:35 2017 Thursday ,15 June

Bahrain condemns attack on UAE ship

GMT 18:41 2017 Wednesday ,12 July

1,600 traffic fines issued in RAK within one week

GMT 13:05 2011 Monday ,05 December

Astronomy\'s most popular mystery

GMT 22:43 2014 Tuesday ,24 June

How brains store recent memories, cell by cell?

GMT 08:40 2012 Monday ,09 January

Discrepancy in reported Arab ad spend for 2011
Emiratesvoice, emirates voice
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice