MindUP Invests in its 14th Portfolio Company: phenofAST
HAIFA, Israel, June 15, 2021 /PRNewswire-PRWeb/ — MindUP, a leading Israeli digital health incubator, is pleased to welcome phenofAST to its family of portfolio companies. phenofAST is bringing a unique, bio-convergent AST solution that combines cutting edge technologies in engineering and microbiology. MindUP has a strong interest in this type of multidisciplinary project that can shape the future of health care.
phenofAST is taking on the growing threat of antimicrobial resistance (AMR), fueled by the inability of clinicians to get definitive results of antimicrobial susceptibility testing (AST) when they need it. Today, clinical teams must wait days for lab results and, as a result, the patient may end up receiving the wrong antibiotic. This elevates the incidence of AMR, prolonging length of hospital stay, and increasing costs.
phenofAST’s first product addresses urinary tract infections (UTI), the most prevalent hospital acquired infection. Using its proprietary optical technology and AI, phenofAST will be able to produce definitive AST results directly from raw urine samples in only 4 hours. This game-changing turnaround time means that the clinical team can get the results and prescribe the right antibiotic in the same shift.
“AST methods available today have a 2-3 day turnaround, even though the patient requires treatment now,” noted Dr. Nadav Ben-Dov, CEO and co-founder of phenofAST. “It often leads to a cascade of events that include further complications, extended post-acute care and even death. Naturally, these adverse events also increase the cost of care.”
Dan Shwarzman, CEO of MindUP, said “With a new take on a problem that continues to plague healthcare systems worldwide, phenofAST is an exciting addition to further strengthen MindUP’s growing portfolio. We are pleased to provide founder Nadav Ben-Dov with the support to make his vision a reality.”
To learn more:
phenofAST: Nadav Ben-Dov, CEO at nadav.bd@phenofast.com
MindUP: Maura Rosenfeld, CBO at maura@mindup.co.il
About MindUP
MindUP, Israel’s first dedicated digital health incubator, is a joint venture of Medtronic, IBM, Pitango Venture Capital and Rambam Medical Center, in collaboration with the Israel Innovation Authority. MindUP funds, supports and nurtures early-stage digital health companies. MindUP offers its portfolio companies a platform that provides 360 degree support from its team, shareholders, and partners, leveraging their combined knowledge, resources, and contacts to significantly increase their chances for success.
Media Contact
Viki Gronau, Joya Marketing, +972 542587278, viki@joya-marketing.com
Maura Rosenfeld, MindUP, +972545655349, maura@mindup.co.il
SOURCE MindUP
