The pharmaceutical industry is considered one of the important sectors growth investors should focus on because of continuous research and development of new medicines, as well as commercialisation.
The development of new vaccines and medications for COVID-19 attracted a lot of investor attention in 2020, which caused biotech stock prices to skyrocket. This trend continued until 2021, resulting in rising biotech stock prices. However, the boom gave way to a biotech bear market in late 2021. This year, the broad market has performed poorly, but biotech shares have performed even worse, underperforming the broader markets.
Investors have become less interested in risky companies in the biotech sector because of high inflation and expectations for higher interest rates. The SPDR S&P Biotech ETF (XBI), an equal-weighted index of biotech stocks, has fallen 40% since January 1, 2021, and is down 23% so far this year. On the other hand, the S&P 500 is down 13.4% YTD. However, since mid-June, biotech stocks have begun a fast-paced recovery.
While current macro trends may hurt biotech stocks in the short term, innovative technology that is well managed has the potential to do very well in the long run. Covid emphasized this extensively, which has heightened market interest in coronavirus treatment and vaccine options. Given how oversold biotech stocks have become, many of these stocks are now appearing to be bargains.
Most biotech firms research and develop multiple drugs concurrently, providing these companies with multiple revenue streams and safe investment opportunities for investors. The current challenges seen by the biotech sector could create a fantastic buying opportunity for investors looking for a stock with the potential for significant long-term growth.
Given all of the above, here are 4 promising biotech companies to consider.
Intellia Therapeutics Inc (NTLA)
Intellia Therapeutics, founded in 2014, is a leading genome editing company that develops curative gene-editing treatments. The company’s programs include the treatment of transthyretin amyloidosis, hereditary angioedema, and acute myeloid leukemia; and proprietary programs focused on developing engineered cell therapies to treat various oncological and autoimmune disorders. Intellia also has licensing and collaboration agreements with various research institutes.
The company continues to make excellent progress with its clinical trials and is expected to present early-stage interim data from a couple of trials and make a major regulatory filing by the end of 2023. In recent financial results, Intellia reported positive progress in both the cardiomyopathy and polyneuropathy arms of the landmark Phase 1 study of NTLA-2001. The stock is down 45% YTD presenting a good time to add this stock to a growth investor’s portfolio as the positive events expected in the coming quarters might drive its stock higher in the coming months.
BioMarin Pharmaceutical Inc (BMRN)
BioMarin Pharmaceutical, Inc., founded in 1997, is a biotechnology company that engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, Naglazyme, Kuvan, Palynziq, Brineura, Voxzogo, and Aldurazyme. The company’s pipeline includes Valoctocogene Roxaparvovec (Roctavian) which is in Phase III clinical trial for the treatment of Hemophilia A; BMN 307, an AAV5 mediated gene therapy which is in Phase 1/2 clinical trial; and BMN 255 which is in Phase 1/2 clinical tria for treating primary hyperoxaluria.
The company recently announced its Q2 earnings which surpassed analyst estimates. BioMarin reported $533.8 million in sales, up 6% Y/Y. Further, Voxzogo for achondroplasia (dwarfism) reported sales of $34.4 million. An estimated 446 children were being treated with commercial Voxzogo globally, compared to 284 children in Q1 FY22.
The stock is up 4% YTD and is expected to perform well in the long-term with the company’s commercial sales for Voxzogo in Japan and Australia expected to begin in Q3. BioMarin also expects that Roctavian will be approved in Europe in Q3, with FDA resubmission planned for September.
NurExone Biologic Ltd. (NRX.V)
NurExone is working on a treatment for traumatic central nervous system damage based on groundbreaking biological extracellular vesicles (E.V.) technology. This startup is developing ExoTherapies, in which exosomes are loaded with healing molecules, and an easy-to-administer delivery system to change the way traumatic spinal cord injury (SCI) is treated around the world. According to the World Health Organization, the estimated global SCI incidence is 40 to 80 new cases per million population per year.
NurExone’s first ExoTherapy, ExoPTEN, has shown very promising results for spinal cord injuries during animal studies. It promoted exon-growth functional recovery, or nerve regeneration. This suggests that NurExone’s groundbreaking and proprietary exosome-based therapy has the potential to provide a much-needed, functional-recovery providing treatment for SCI.
The company holds a worldwide exclusive license agreement with the Technion, Israel Institute of Technology in Haifa, for the development of technology, clinical trials, and commercialization. Nurexone (NRX.V) is now listed on the TSX Venture Exchange, following the completion of a Reverse Takeover Transaction.
Israel is home to more than 400 active biotech startups that have shown remarkable growth by leveraging advanced technologies. The country is known for investing the highest percentage of its GDP in R&D encouraging academic centers and research groups to develop breakthrough treatments. Given the availability of resources and support, alongside the fast-growing industry NurExone is pursing, the company is primed to experience significant growth in the coming years.
Vertex Pharmaceuticals Incorporated (VRTX)
Vertex, founded in 1989, focuses on the discovery, development manufacturing, and commercializing of breakthrough small molecule drugs for serious diseases including cystic fibrosis, infectious diseases, autoimmune diseases, and neurological disorders. The company reported strong second-quarter results with product revenues up 22% Y/Y to $2.20 billion.
The stock is up 24% YTD. Given the company’s recent pipeline development, the stock has more upside potential. Vertex’s CF (cystic fibrosis) drug TRIKAFTA recorded strong performance in the United States. As a result, the company expects the demand for CF drugs to remain high additionally driven by the launch of KAFTRIO outside the United States. Vertex has completed the Phase 3 study of TRIKAFTA/KAFTRIO in children 2 to 5 years old and expects to submit global regulatory filings for TRIKAFTA/KAFTRIO in children 2 to 5 years old this year.
Vertex has also filed a Supplemental New Drug Application (sNDA) with the U.S. Food and Drug Administration (FDA) and a Marketing Authorization Application (MAA) with the European Medicines Agency (EMA) for the use of ORKAMBI in children 12 months to less than 24 months old.
Conclusion
Biotech stocks have started to recover with some big players reporting positive growth in the recent quarter. Investors who add the right biotech companies to their portfolio now will be able to reap lucrative rewards in the long run when the bear market eventually subsides.
This Israeli startup finds key ingredients in nature that are also found in breast milk
The ingredients that make mother’s milk the best possible thing for a baby will now be available for grownups.
Israeli food tech startup Maolac uses an algorithm that matches the key proteins in breast milk with alternative sources found in mushrooms, algae, and plants.
Everything that baby benefits from — protection against illness, anti-inflammatory qualities, and nutrition — will be utilized in a superfood for adults, Maya Ashkenazi Otmazgin, and biomedical engineer and the CEO for Maolac, tells NoCamels.
“We created an algorithm that can actually look at all the proteins inside breast milk and mix and match the key proteins responsible for different functionalities and then find them in alternative sources in nature, like mushrooms, algae, and plants,” she says.
Maolac is also said to be the first company in the world to identify and extract functional proteins from bovine colostrum, a nutrient-rich milky fluid that comes from the udder of cows in the first four to five days after giving birth, which is 95 percent equivalent to those found in breast milk, according to the firm.
Bovine colostrum produced by baby calves should not go to waste. Image by Erdenebayar Bayansan from Pixabay
Extra milk from calves– as much as 20 liters per cow — is thrown away after getting a certain amount from each one. “If we look for it, we will see 5 billion liters of bovine colostrum that the dairy industry does not use,” Ashkenazi Otmazgin says.
“The idea of transforming the first, nutrient-rich milk of cows that have just given birth into a source for human protein is a stroke of pure genius. Billions of liters of bovine colostrum are discarded each year. Maolac takes this waste and creates a product of huge potential benefit to millions at a time when the world is desperately searching for new sustainable sources of protein. The company is a perfect example of the circular economy in action,” said Jon Medved, CEO of OurCrowd, which has invested in the company.
Nursing vision
Otmagazin had the idea to create a superfood using nutritional ingredients found in breast milk while experiencing “the magic” of nursing her first child. She realized she wanted to harness the benefits of that breast milk for adults.
“I told myself – this is the ultimate superfood for mammals,” she says in a conversation with NoCamels during a short break between a hectic day of meetings. “There are different functionalities that breast milk can provide for a small human being and I realized we could leverage all the goodness to create something new inspired by a formulation that created the human species and actually brought us to where we are,” she says.
In 2018, Ashkenazi Otmazgin joined forces with Eli Lerner and immunity expert Dr. Ariel Orbach to form a food tech startup. The company just raised a $3.2 million seed funding round led by active crowdfunding platform OurCrowd with participation from The Kitchen FoodTech Hub founded by the Strauss Group, The Food Tech Lab, VentureIsrael, NEOME, and Mediterranean Towers Ventures.
Studies have shown that there are numerous benefits to breastfeeding a baby that both protect against illness and positively impact health and child development. According to the Cleveland Clinic in Cleveland, Ohio, USA, breast milk provides abundant and easily absorbed nutritional components, antioxidants, enzymes, immune properties, and live antibodies from the mother that attack germs and protect the baby from illness.
Maolac superfood products. Courtesy.
Maolac’s technology relies on a bio-convergence platform for the discovery of proteins based on machine learning and natural language processing search algorithms. The company identified more than 1,5000 known bio-active proteins in human breast milk and over 400 homolog proteins in bovine colostrum, and have since created thousands of human functional milk protein mixtures using similar ingredients found in plants and mushrooms, and other sources found in nature.
Ashkenazi Otmazgin stresses that the alternative sources must come from nature. “We don’t make them in a lab or genetically modify our mixtures.”
Maolac’s active ingredients work like breast milk to directly target specific body function, traveling through the bloodstream or gut to produce higher overall efficacy at lower dosages, a statement from Maolac said.
One of the ingredients has anti-inflammatory properties and is part of the first Maolac product line for humans. It will target athletes to reduce muscle strain and improve recovery time. The product will also target the elderly to support living and improved mobility. It will form the basis for the next generation of gut health solutions for humans and pets to help prevent severe cases of gut inflammation.
The second ingredient will be a part of products creating the next generation of probiotics, according to Otmazgin. It will contribute to a better digestive system to reduce inconvenience due to stress in the gut, irritable bowel syndrome (IBS), or other conditions
Maolac will use the seed funding they just raised to build a state-of-the-art facility that will feature small-scale production capabilities. The facility will also be able to create analytics and samples for customers and clinical trials.
The Maolac team. Maya Otmazgin is in the center. Courtesy.
Ashkenazi Otmazgin tells NoCamels that the startup is in advanced discussions on joint development agreements with several leading Israeli companies in the food and supplements markets. It is also in talks with several of the world’s leading dairy protein producers and global dairy, ingredient, and supplement companies.
“We have several contracts on the table with potential global manufacturers that will produce for us. Our intention is to go global,” says Ashkenazi Otmazgin, citing both the US and Europe.
“We want to be the next generation of smart ingredient companies that create precision proteins for the food supplements and cosmetics industries with a portfolio of products with different functionalities,” says Ashkenazi Ashkenazi Otmazgin, “We want to bring active ingredients in small doses that won’t have an influence on taste, texture, or colors of existing food products, so people will love to consume those products.”
Ashkenazi Otmazgin also admits that in the future, the company will go to other markets, like the baby formula market. “Not full formula, but functional ingredients for the industry,” she adds.
For now, though, the focus is breast milk.
“There are so many companies that work in the alternative space and don’t look at breast milk — there is something quite repulsive when you talk about it. But adults can take real advantage of it,” she says.
Chief mobility officer of Michigan, the heart of the US automotive industry, says Israeli companies are reinventing transportation infrastructure.
“When we look outside of the United States for new technology, especially for mobility technology, there’s really only two places that have the technology applicable to the use cases that we have here,” says Trevor Pawl, chief mobility officer for the State of Michigan.
“The first is Europe and the second is Israel. It’s remarkable that Israel is the second market because of how small the country is population wise and geography wise,” Pawl tells ISRAEL21c after speaking at the EcoMotion international mobility conference in Tel Aviv.
Considering that the Michigan city of Detroit is the epicenter of America’s automotive scene – this is the birthplace of vehicle manufacturing as well as infrastructure such as traffic lights and lane markings — it’s significant that the state is looking to Israel for innovation in that sector.
While Israelis don’t have a history of car manufacturing, says Pawl, “they have a history of software engineering.”
And that’s key, he says, because “the automotive industry is being driven by four foundational platforms: autonomous technology, electric technology, shared technology and connected technology.”
All of which are Israeli areas of expertise.
In-road charging
Trevor Pawl, chief mobility officer for the State of Michigan. Photo courtesy of Michigan Economic Development Corporation
One joint project is with Israel-based Electreon to build America’s first wireless charging road for electric vehicles.
“We’re seeing Israeli companies come in and help us solve problems but also help us realize that the horizon for future technology being integrated into the real world isn’t as far off as we think. And the perfect example of that is Electreon,” says Pawl.
“Once we saw other Electreon deployments in Sweden and in Israel, we knew that Electreon was a company that we wanted to work with in Michigan,” he says.
Photo courtesy of Electreon
“As transportation infrastructure is being reinvented and we have money from the federal government to reinvent it, we are looking at what else could we do, aside from creating charging stations, to help fleet operators transition from diesel to electric. And one of those things is not having to wait half an hour at a charging station,” Pawl explains.
“We believe that Electreon’s technology will allow for continuous loops for things like delivery vans and transit vehicles. We’re deploying the first mile of road that charges a vehicle as it’s in motion, right here in Detroit, to go live next year. I’m almost certain that it’s not going to be the last mile.”
Kinetic charging
Michigan may also do business with ZOOZ Power (formerly Chakratec), an Israeli company whose Kinetic Power Booster (KPB) based on innovative flywheel technology can provide ultra-fast charging networks for electric vehicles.
Photo courtesy of ZOOZ
“As we build out our EV charging network in Michigan, where much of the population is in the lower part of the state, we have some unique challenges with the grid,” says Pawl.
“This company has a contraption that is able to create its own kinetic energy, then make up the difference in that portion of the grid to ensure that a charging station, or two or three charging stations, are able to function in areas where maybe they wouldn’t otherwise.”
Pawl said that the state is looking into Israeli solutions for maritime mobility for recreation and industry as well, given that transportation on the Great Lakes is important to Michigan’s economy.
Michigan Israel Business Accelerator
Pawl emphasizes that Michigan is seeking Israel innovation in a variety of verticals, such as security, consumer goods and water and agricultural technologies, that generate local jobs.
The Michigan Israel Business Accelerator organizes trade missions a couple of times a year to facilitate matches between Michigan’s needs and Israel’s capabilities.
“Obviously, I only get involved in the transportation mobility side of it,” says Pawl, “and it was important that we brought some of the Michigan Department of Transportation lead consultants on innovative projects — whether for bridges or for the future of automated payments — to EcoMotion to see what was going on in real time with a clear focus on the market.”
The accelerator, he continues, “has boots on the ground in Israel, allowing us to have a presence at cool events such as EcoMotion and making sure that we’re meeting with high-level officials, going into the command centers for certain highways, and meeting with people that are trying to solve the micro-mobility congestion issue in cities.”
Looking at the direction in which the automotive industry and smart cities are moving, Pawl says, “there’s more synergy than you would immediately think. You can’t afford not to be having a constant dialogue with leaders in Israel’s public sector and private sector.”
Mobility and smart cities
Among the Israeli technologies piquing interest are data-driven digitized garbage collection from GreenQ, road noise cancellation technology from Silentium and AlgoShield, a real-time early warning lithium battery hazard detection and explosion-prevention solution.
“We’re getting a lot of questions from cities like, ‘Okay, if we’re going to be aggressively rolling out charging stations and electric vehicles on the road — General Motors is flipping over to all electric by 2035 — how are we going to handle the worst cases, such as battery fires? How do we prepare for the future?’
“Aside from making sure firefighters have the right technology and knowledge to work with a battery fire, the vehicle is going to have to take a major leap forward,” says Pawl.
Photo courtesy of EcoMotion
“If you’re focused on trying to make sure that America not just leads the world in producing technologies and vehicles but also that it’s simply one of the best places to get around, I think Israel can help us find the way.”
Testing ground for Israeli technologies
Trevor Pawl speaking at EcoMotion 2022. Photo courtesy of Michigan Israel Business Accelerator
In his speech at EcoMotion, Pawl said that Michigan, which borders Canada, is a valuable testing site for Israeli businesses entering the North American market.
“We understand that there’s other markets like Silicon Valley, and places on the East Coast that have venture capital markets, but to really prove out your technology you’re going to want to actually get it out in communities,” he explained.
“You’re going to want world-class testing sites at the earlier stage, and once you’re past that point you’re going to want to work with a government that’s willing to give you access to their infrastructure and that has regulatory policies where you can move at the speed of the market and get permits quickly.
“So while you may kick the tires at an automaker R&D lab in Silicon Valley, if you want to end up on a North American vehicle, you have to come through Detroit. And if you want to build a fleet, you’re going to have to access our supply chain,” he says, noting that Detroit houses the lion’s share of US automotive suppliers and automakers.
“This is paired with our commitment to, for instance, the Electreon project, opening up our infrastructure to help Electreon write their playbook in North America.”
Michigan also has North America’s first smart parking lab and is constructing America’s first signature EV route along Lake Michigan. The US and Canadian federal governments are seeking technologies to build better border crossings, Pawl says.
In addition, Michigan is building a 40-mile autonomous vehicle lane between Detroit and Ann Arbor, “which will be essentially the road of the future and provide hundreds of other opportunities for Israeli companies to insert their technology.”
Wireless V2X technology developed in Israel alerts motorists and two-wheel vehicle riders to each other’s presence.
An affordable device that alerts cyclists and scooter riders to the danger of unseen motorists could prevent many accidents globally, says Israel-based Autotalks.
The company uses V2X (vehicle-to-everything) technology to connect two-wheelers with other road users and warn them of each other’s presence.
The device, called ZooZ 2, gives a visual warning to two-wheel riders if a vehicle is approaching an intersection and could hit them. It also alerts them to drivers indicating a right turn who may be in their blind spot, and cars that jump a red light.
Drivers who have the device are likewise alerted to the two-wheeler. ZooZ 2 uses wireless technology so it can reliably detect two-wheelers even if the line of sight is obstructed.
The company says three quarters of bike and scooter accidents are caused by drivers failing to notice the two-wheeler – and it’s almost always the two-wheeler that comes off worse.
“Autotalks regards all road accidents as preventable, and those accidents involving bikes and scooters deserve special attention,” said founder and CTO Onn Haran.
“We’re committed to making our new micromobility safety device available immediately in order to save the lives of two-wheeler riders around the globe.”
Cyclists and scooter riders fit the device to their handlebars at a cost of $50 to $100 or it can come integrated on high-end models. ZooZ 2 currently communicates only with the 10% of cars that are V2X-enabled, but the technology is to be included in most new vehicles launched in 2025/26.
The first version of the ZooZ micromobility device was launched in September 2021. Autotalks says the updated version is undergoing validation tests by four manufacturers of bikes or their components, and by two vehicle manufacturers.
Autotalks showcased the ZooZ 2 device last week at the Velo-City Conference, the world cycling summit, in Ljubljana, Slovenia.
The plug-and-play device uses software provided by US-based V2X specialist Commsignia and has been tested successfully by the European consortium Project SECUR (Safety Enhancement through Connected Users on the Road).
Autotalks has already produced similar technology for motorcycles and says the first motorcycle manufacturer will incorporate it into mass-produced models in Europe in 2024.
Two-minute AI profile saves physician from time-consuming trawl of medical records
The average doctor’s appointment lasts about 20 minutes — 30 if you’re lucky. The physician sees dozens of patients, many with complex histories and taking a range of medications. Every detail is important, but there’s no way a doctor can keep track of it all.
Enter Navina (“Together we Understand” in Hebrew), a platform that uses AI to present a doctor, with an entire in-depth medical history that they can read and digest in two minutes.
It presents them with indications of risk factors, illnesses, and treatments of a patient, in an easy-to-read patient profile that can be accessed through a smartphone app. So they no longer need to trawl through a mass of records going back months and years from different hospitals and different specialists.
The company was founded by two former intelligence officers who revolutionized the use of AI during their time in the IDF to present military commanders with the data they needed, when they needed it.
They are now adapting that model to help busy doctors who need to have all relevant data at their fingertips the moment their patient walks into the surgery.
Navina says it turns “chaotic data into actionable patient portraits”. The portrait replaces disorganized patient data with a logical grid that makes it possible for a primary care physician to access a patient’s medical records within seconds.
Navina’s patient portrait provides a one-page summary with critical information from many sources, including images, emails, and faxes that are hard for physicians to find on their own.
The team teaches the machine how to extract the proper data no matter what the source. To do this, Navina developed NLP (natural language processing) models which extract and structure the data through deep learning. with special codes for specific terminology.
Ronen Lavi, co-founder and CEO of Navina, compares the profile to what happens when you do a Google search on a person, where clicking to search will get you a page that is a roundup of the person with a photo, biography, information about life experiences, and articles correlated with the person. Similarly, Navina would present a contextual summary of a patient’s most pertinent medical information so that physicians can understand their health status.
Navina presents the doctor with a two-minute in-depth patient profile. Deposit Photos
“We built algorithms to do two main things. First, you have a lot of unstructured data — a lot of text. In a process called entity extraction, we extract all the right relevant codes out of the text, all the labs, all the meds, all the problems, all the diagnoses, through machine learning (ML) capabilities. Then, we build a knowledge graph that links all the data,” he tells NoCamels.
“For a problem like blood pressure, [the profile] will show you the right medication, the right consult notes, the right lab tests, everything is correlated and explained to the physician. That’s the two main things we’re doing behind the scenes,” he says, noting that it’s about taking all the information, doing a correlation, and then creating a link that gives you a contextual understanding of your subject.
“What we saw was one of the main problems of physicians. They can address one or two problems — maybe three — if they know them in advance,” Lavi adds. “Five minutes before having to leave, the patient remembers – ‘Oh, hey, I have to ask you about this medication. I have to ask you about the new problem I have. I have to ask you about my family — and the physician hates this. The patient also hates it because they get the answer, ‘Sorry, my friend, I can’t deal with this right now. I have to go to the next meeting. And the patient doesn’t get the full attention he needs.”
The Navina app is currently being used by some 1,500 physicians and at leading clinics across the United States. The company is also marketing the product to health providers and risk adjustment teams , that predict future health care expenditures of individuals based on diagnoses and demographics.
Cutting through the clutter of patient data
The healthcare industry has amassed a huge amount of data over time, which has quickly become disorganized and difficult to manage. With so much data to analyze so quickly, health professionals often turn to AI to organize and interpret the data for improved insights.
This isn’t easy, Lavi tells NoCamels. In fact, it’s “complicated technology,” which explains why it hasn’t been done before. But Navina has a number of AI and medical experts on its team, including two co-founders with experience in the elite 8200 unit of the IDF, where they focused on bringing AI from theory into practice.
Lavi spent 24 years in 8200 and at the Prime Minister’s Office, where he established and led the AI Lab of Israel’s Military Intelligence, which collaborates with leading tech companies and academia to develop cross-functional platforms that provide insight into challenging data. Shay Perera, CTO at Navina spent a decade in elite intelligence units, where he was involved in R&D and held leadership positions. He also has a Master of Science in electrical engineering from the Technion with a specialty in machine learning.
Perera says a relative of his was diagnosed very late with cancer due to mistakes by the family doctor and his condition deteriorated as a result. The pair realized GPs were missing out on many critical diagnoses because they couldn’t absorb the volume of patient data they had to deal with.
The Navina team behind the app that turns chaotic data into clear information for doctors. Courtesy
Lavi and Perera were responsible for one of the greatest revolutions that took place in 8200 and later in the IDF – the smart data revolution that is presented to commanders in real-time. The two built the AI / ML-based information systems of the cyber units that processed data and upgraded the capabilities of cyber commanders and won a National Security Award for their efforts in 2018.
After being released from the army, the two used their knowledge and expertise in data, AI, and machine learning to make a difference in people’s lives. For Naviana, founded in 2018, the two replicated the data model they built in the IDF to implement it in health institutions around the world.
“I think the gain for the patient is very obvious,” says Lavi, “They want to get everything to be addressed. And the physician should be with the patient, not with the computer. And that’s what Navina allows them to do because everything’s summarized for you in two or three clicks.”
“Navina is disruptive because it’s one of the first digital health applications that I know of, which the physician is actually willing to use. It’s not a burden. The machine behind the scene does a lot of stuff for them that allows them to understand the patient very easily. And every time I say that, people ask how did nobody think about it before and why hasn’t it been done.”
These Israeli companies use mobile phones to gather and/or transmit health data and keep tabs on chronic conditions.
Social entrepreneur Ariel Beery and optics expert David Levitz had the inspiration to use the built-in camera of a smartphone to screen for cervical cancer — the fourth most common cancer affecting women globally and the second most common cancer for women in low-resource settings.
“More than five billion people around the world have access to mobile phones, but not to a physician,” Beery told ISRAEL21c in 2014, when the prototype was being piloted in five countries.
“We can do what a $100,000 device can do on a mobile phone, with 10 times better magnification than using just the naked eye, raising diagnostic accuracy significantly.”
Today, the EVA point-of-care device from MobileODT is used by primary care providers in 30-plus countries to conduct specialist-level visual screenings for thousands of women.
Ariel Beery, general partner of CoVelocity Health. Photo by Erin Kopelow
“MobileODT was the first company to build an FDA Class 2 medical device — a regulated medical device that replaces an existing medical system — around a mobile phone,” says former MobileODT CEO Beery, now general partner at CoVelocity Health, a strategic commercialization partner for medical technologies.
Since then, many other companies have harnessed the mobile phone – either to help healthcare professionals gather data (as with MobileODT) or to help patients transmit data from home to the practitioner and facilitate communication during a remote exam.
“There are a number of reasons why mobile phones make sense to be the core platform for a medical device,” says Beery.
“The first one is that every single person on the planet knows how to use one. And that is so important, because training and onboarding for a medical device is very difficult. When you have something based on a mobile phone platform, it’s relatively easy for the practitioner to watch a few tutorials and very quickly start using the device. That’s not the case with anything else, and it’s super important because then you can expand into rural areas and low-resource settings efficiently.”
There are other advantages of using smartphones for healthcare.
“From a regulatory perspective, most mobile phones in the market have received both electrical testing and broadcast certificates. Wi-Fi is intermittent around the world, but when you have a SIM card and a device that will be connected or integrated with medical information systems, a mobile phone shortcuts a whole host of regulation and registration — things that are really hard and expensive to do,” Beery adds. “For any [medical] device that requires communication, mobile phones already have all that already baked in.”
Below are descriptions of 13 companies using the smartphone as a basis or adjunct for smart healthcare.
MobileODT
Photo of the EVA system courtesy of MobileODT
Beery and Levitz originally envisioned EVA as a colposcope addon for the healthcare practitioner’s own phone. The current version instead has a dedicated Samsung J530 built in for all-in-one visualization, documentation and teleconsultation.
“We learned that there’s a big difference between things that assist a health worker in decision-making or communication functions, where using their own mobile phone makes sense; and information-gathering or diagnostic functions, in which case a dedicated mobile phone makes sense,” Beery explains.
“Diagnostic functions require your device to touch the patient. That brings up issues of security and sterilization. Also, a dedicated phone doesn’t have the same wear and tear and memory issues that you have with someone’s personal phone and doesn’t conflict with their images and WhatsApp and what have you.”
The EVA product line now includes separate devices for cervical cancer screening, cervical examination and sexual assault forensics. It’s also used to train clinicians in colposcopy; telecolposcopy or remote colposcopy.
Binah.ai
Remotely or onsite, Binah.ai’s video-based solution provides medical-grade vital signs measurements — heart rate, heart rate variability, mental stress level, oxygen saturation, respiration rate and more — within 2 minutes via a video of the patient’s upper cheek taken with a smartphone, tablet or laptop.
The signal processing and AI technology compensates for motion and imperfect lighting, and supports any age, gender and skin color. It can even detect subtle changes that might otherwise go unnoticed. Binah.ai works with healthcare, insurance and wellness industries in several countries.
Binah.ai is headquartered in Ramat Gan with offices in Maryland and Tokyo.
Healthy.io
This Tel Aviv-based startup, founded in 2013, leverages the image-processing capability of any smartphone camera for four at-home Minuteful medical tests – kidney function, wound management, urinary tract infection and urinalysis — whose results are transmitted to the clinician instantly.
Healthy.io’s partners in the US and UK include, among others, the National Kidney Foundation, the National Health Service, Modality and the Boots chain. The company recently acquired its American competitor, Inui Health, for $9 million.
K Health
K Health, billed as “healthcare without the system,” provides 24/7 phone access to board-certified doctors in 48 US states for $29 per month (no insurance necessary), where it has some 6 million users. The entire intake process is done on the smartphone, and users text K Health when they are free for a consult.
K Health provides 24/7 access to physicians as well as a free symptom checker. Photo courtesy of K Health
Members can download a free AI-powered symptom-checker app and obtain on-the-go prescriptions and refills. Primary care, urgent care, mental health and pediatric care (as well as Covid-related services) are all included. K Health is based in New York with development offices in Tel Aviv.
Sweetch
Sweetch provides a personalized digital coach for preventing and managing chronic diseases. Image: screenshot
Sweetch is a mobile based digital coach providing personalized recommendations for preventing and managing chronic conditions, generated from analysis of millions of datapoints on the individual’s smartphone and other connected devices.
In addition to the Sweetch app, the technology is available as a white-label app or as an SDK to be integrated within an existing app. Headquartered in Tel Aviv, Sweetch is used in countries across the world.
Montfort
Montfort bridges technology and neurology, turning any standard smartphone into a personalized neurological medical testing device.
Using smartphone sensors and AI, Montfort’s EncephaLog app provides FDA-cleared digital neurological tests for early diagnosis of conditions such as Parkinson’s disease, Huntington’s disease, anxiety, depression, post-Covid-19 neurological symptoms and more.
In the app, patients see the specific tests prescribed with reminders about when to take the tests and instructions in the patient’s preferred language. Montfort is used in more than 10 countries.
The tests measure parameters in three dimensions — motor (such as balance, gait, tremor), cognitive (memory, response time, pattern recognition) and mood indicators. It merges those measures with a fourth dimension of physiological records (genetics, brain scans, data from wearable devices) for a holistic picture.
Nonagon
Nonagon, backed by Phillips and Teva, has FDA and CE approval for its smartphone-based telemedicine device.
Four embedded sensors interface with the user’s smartphone to provide readings of nine common tests required for primary medical care: a stethoscope check (lung, heart and bowel sounds), otoscopy of the ear, oximeter (pulse rate and saturation), thermometer (body temperature), and a throat and skin test that uses the smartphone’s camera.
The device works with patients as young as two years old. The clinical data is sent in real time to the physician, enabling near immediate diagnosis, referral or prescription. Formerly known as MyHomeDoc, Nonagon is based in Caesarea with offices in New York.
TytoCare
This company’s award-winning TytoHome remote exam device ties in with the user’s and physician’s iOS or Android smartphone (or other device) via an app that allows the practitioner to control and guide the entire exam in real time.
For example, the clinician can take control of the stethoscope adapter to listen to lung and heart sounds or use the otoscope adapter to check ears for infection. After confirming a diagnosis, the clinician can send further instructions or a prescription.
OneStep
Photo courtesy of OneStep
OneStep of Tel Aviv developed an app-based physical therapy platform providing comprehensive gait analysis using only smartphone sensors.
The user needs nothing more than a smartphone nearby while doing the prescribed exercises. The app gives a detailed assessment of walking and overall mobility and allows physical therapists to communicate and provide effective treatment to patients 24/7.
Lumen
Lumen’s handheld device allows users to analyze and monitor their metabolism with their smartphone. It reveals the body’s current source of energy — fats or carbs — on a scale of 1 to 5, based on the respiratory exchange ratio.
Image courtesy of Lumen
The score helps users adjust their daily diet and physical activities accordingly: Low-carb days decrease the insulin spike, improving insulin sensitivity and enhancing mitochondrial function, while high-carb days ensure the body’s ability to use carbs for energy and keep hormones in balance.
MindReset
This app built on eye-tracking technology from Jerusalem-based Umoove helps thousands of users “reset” their response to depression, trauma, anxiety, stress and other emotional triggers.
Image courtesy of MindReset
An audio guide takes the user through each daily two-minute session of a 10-day program tailored to specific conditions. The eye tracker on the phone’s camera detects patterns in eye movement that indicate a stress trigger. Users are directed to do certain tasks with their eyes that interrupt the pattern and thus create a therapeutic effect by clearing the triggers.
The unique method behind the app was published last November in the journal Frontiers.
Yitzi Kempinski, founder-CEO of Umoove and CTO of MindReset, says results are so encouraging that the company is researching other ways people can use the app, such as for work burnout or emotional barriers to learning.
Neuralight
Using ocular metric data captured with a standard webcam or smartphone, this Tel Aviv- and Texas-based startup is building an AI-driven platform to accelerate and improve drug development and patient monitoring, as well as introduce precision care for patients with neurological disorders.
A physician records a five-minute video of a patient’s eye movements. Neuralight’s imaging tools clean up the video, then artificial intelligence and machine learning decipher what’s behind the eye movements.
The concept is based on scientific studies over the past 20 years showing correlations between various oculometric measures and the neurological status of patients suffering from a range of neurodegenerative and psychiatric disorders.
Cordio Medical
Cordio Medical’s HearO technology can sense fluid accumulation related to congestive heart failure through a patient’s speech and send an alert. This noninvasive monitoring solution is based on true speech signal processing augmented with machine learning.
The user speaks into a smartphone app whose algorithms allow near real-time monitoring and early detection of condition deterioration. The system is patient-tailored, constantly learning the patient’s voice. HearO noninvasively.
The company recently raised $18 million and aims to enter the US market in 2024.
Israeli researchers from the Technion are developing a solution that addresses the shortages in seasonal harvesters: robots that pick fruit for us.
Throughout history, early summer has often signaled the time to harvest. Harvesting, of course, has evolved considerably. As opposed to ancient times when mobilizing the whole community was necessary to fully harvest grain, there are sophisticated machines nowadays run by just a few individual operators that quickly navigate through fields and efficiently process many acres at a time.
However, in the case of fruits, there is still a need for a great deal of manual labor throughout the harvesting process today, but workers are in short supply. The farming labor and resource shortage is reported in many countries across the world including the United States, Australia, the United Kingdom, Vietnam and Brazil. Unharvested produce leads to a loss of food quality and spurs enormous economic losses, a fact that will become more evident and problematic as the world population continues to increase.
In a new Israeli study, researchers from the Technion developed a ground mobile robot that could drastically advance fruit agriculture and harvesting. The robot, whose development was led by Associate Professor Amir Degani from the Technion’s Environmental, Water, and Agriculture Engineering Department, will have the capability to use one or multiple small-sized drones to perform the operations required in orchards much more accurately and cheaper than the methods used by farmers today.
The study was recently presented at the “Water and Environmental Engineering in the Face of Climate Change” conference of the Environmental, Water, and Agriculture Engineering Department at the Technion’s Faculty of Civil and Environmental Engineering.
The Need for Better Fruit-Picking Robotics
The gap between the number of seasonal laborers and the volume of work is expected to significantly expand as the world population continues to grow. By 2050 there are expected to be more than 9 billion people in the world, and in order to feed them all it will be necessary to increase the volume of food production anywhere from 35-60 percent (unless the whole world switches to a plant-based diet).
One might expect though that with such a highly populated world there would be no shortage of working personnel, but sadly this is not the case.
“People have been moving from villages to cities for decades – and fewer people want to engage in manual labor,” Degani explains. “It’s seen in construction and agriculture, and it happens everywhere – including in countries with very large populations, like India and China. In India, for example, harvesting coconut is a very important task – but fewer and fewer people want to work in that field.”
According to him, the problem also exists in Israel. “As in many Western countries, there are quite a few years in Israel where apples fall to the ground because no one is there to pick them in time.”
Degani believes the solution to these problems lies in robots that know how to pick fruits.
“Just as automation has solved many of the problems that plagued field crops, like using machines such as combine harvesters, once we adapt this strategy to plantations farmers will be able to better streamline and reduce the uncertainty that currently surrounds the acquisition of skilled seasonal labor for specific times of the year,” he says.
It is important to note that automating harvests should be approached differently than those used for field crops, which involve rough, large, and overly expensive machines.
“In field crops, massive harvesting is carried out all over the area––usually indiscriminately,” says Degani. “Picking edible fruit should be gentle and selective. The fruits should be picked one by one and handled carefully.”
Interestingly, he claims that the robotic arms currently used in factories, which have a large range of motion and accurate precision capabilities that humans can only dream of, are not suitable for the task.
“Although these robotic arms know how to perform a pre-planned operation, their sensing and decision making capabilities are limited and are not suitable for agriculture,” he says. “Agriculture is a more difficult world. Agriculture takes place in an uncertain environment with fluctuating changes in light and outdoor conditions, so the robot must have complex sensing and decision making capabilities.” According to him, the robot should not be too expensive of an alternative because otherwise many farmers will not be able to afford it.
Call in Air Support
Degani and his team began to approach the challenge of the harvesting robot’s development by first addressing its maneuverability in the orchard, a task more complicated than it sounds.
“In order for the robot to patrol and weave through all the trees and detect pests or ripe apples, for example, it must know where it exactly is,” Degani explains. The orchard environment is relatively homogeneous from a ground point of view, with most of the trees looking about the same and the GPS reception not being particularly reliable.
This obstacle gave rise to the idea of establishing a connection between a ground mobile robot and a drone. The researchers found that when utilizing the perspective of a low-flying drone, the top-view observation of the orchard provides a unique signature of every tree formed by the shape of its canopy. The first study on the subject was published in the robotics and automation section of the IEEE magazine.
Currently, researchers are working on additional ways in which the farming robot can use small drones to perform the operations required for harvesting orchards. First, they demonstrated that a drone could hover around a tree, creating a detailed three-dimensional image of each of the trees in the area. These are needed to make the harvesting process more efficient and reflect more modern model of precision agriculture.
“The meaning of ‘precision agriculture’ is that instead of making decisions on issues relating to things like fertilization, irrigation, thinning, pest management, or harvesting at the entire field level, we will look at the agricultural plot at a higher resolution and make such decisions down to the individual tree level,” explains Degani.
This will make it possible to increase the volume of produce, by providing the best conditions for each individual tree, and beyond that, save the use of resources such as water, fertilizer, and potentially dangerous pesticides.
Degani believes the solution lies in the capabilities of a ground mobile robot that knows how to navigate around the wood, perform precise mechanical operations, and even pollinate flowers––another separate project currently under development in the laboratory.
A Shift From Human to Robot?
Today, Degani’s studies are in the prototype stage, and they demonstrate possibilities for future development. In any case, there are already several automation attempts in the fruit harvesting industry represented by Israeli companies such as FFRobotics, a robot equipped with the ability to emulate human hand-picking, and Tevel Aerobotics Technologies, which developed a flying harvester that is scheduled to enter its pilot phase in the coming year.
Beyond that, not only is the identity of the harvester expected to shift from human to robot – but the structure of the orchard itself is also speculated to change.
“The way we engineer and grow trees will change, and they will be designed in a way that is right for robotic harvesting,” Degani explains. “Even today you can see in the world apple orchards that look almost like a two-dimensional wall on which fruit grows. This is not genetic engineering but mechanical engineering operations designed to make the orchard grow as efficiently as possible.” The new orchard structure allows for denser planting and is designed to enable easier harvesting for both humans and robots alike. Studies are currently underway to determine the most efficient configuration, in preparation for an era in which robots will enter the agricultural landscape.
In the end, according to Degani, everything is aimed at becoming more efficient simply because we have no other choice.
“Even in modern agriculture, the farmer will be very important, but he will need much fewer working hands,” he says. “Like quite a few things, the data will be at the center, to help him make informed decisions, and the robots will carry out the tasks in the field. This is what will direct the efficiency so that we can reach a sufficient crop target that will feed all humans,” he says.
“Because there will be less land, less resources, and less manpower over time, there is a need to find a solution. Otherwise, fruits like apples will be accessible only to the very rich,” Degani concludes.
Funding will be used to support more than a dozen studies
A new university grant program in Israel with a budget of over $1 million will support researchers in their quest for new food technologies.
The ministries of Agriculture and Innovation, Science and Technology initiated the program with an emphasis on alternative proteins.
The ministries launched a call for proposals last Thursday, in collaboration with the Good Food Institute (GFI) Israel, a non-profit organization that seeks to promote research and innovation in food technology.
The food technology sector is a broad field that includes nutrition, packaging, food safety, processing systems, new ingredients and alternative proteins. These include plant-based meat, dairy and egg substitutes, dairy products, cultured meat and seafood, insect proteins, and fermentation products and processes.
Many of the technologies used in this field are based on academic research.
The technologies of two major Israeli cultured meat companies, Aleph Farms and Future Meat, are based on bioengineering research developed by their respective co-founders, Professor Shulamit Levenberg of the Technion – the Israel Institute of Technology – and Professor Yaakov Nahmias of the Hebrew University of Jerusalem.
Both are leading academics in the field of tissue engineering.
Ministry funding will support a dozen university studies offering science and technology solutions in the areas of cultured meat, fermentation processes and plant-based substitutes.
These studies can be aimed at improving the final product or the production process itself, the ministries said.
The study is related to a problem in AI and robotics called autonomous decision-making under uncertainty.
Researchers at the Technion – Israel Institute of Technology found a way to simplify decision-making and problem-solving under uncertainty in a way that reduces the amount of information computers need to analyze.
A new peer-reviewed study published in the International Journal of Robotics Research, led by Prof. Vadim Indelman, who heads the Autonomous Navigation and Perception Lab (ANPL) at Technion’s Faculty of Aerospace Engineering, and Khen Elimelech, shows the feasibility of reducing the amount of time for computers to process information without compromising the success of completing a function.
“We demonstrate that we can significantly reduce computation time, without harming the successful execution of the task,” the researchers said. “We also demonstrate that computation efforts can be reduced even further if we accept a certain loss in performance loss that our approach can evaluate online. In an age of self-driving cars and other robots, this is an approach likely to enable autonomous online decision making in challenging scenarios, reduce response times, and achieve considerable savings in the cost of hardware and other resources.”
The study is related to a problem in AI and robotics called autonomous decision-making under uncertainty, which concerns the capability of AIs to complete tasks reliably and autonomously over time in an unpredictable environment.
Technion noted that autonomous agents often do not have access to the variables related to a particular problem and instead function based on a “belief” based on probability models and measurements.
Illustrative image of AI. (credit: PIXABAY)
Belief space planning
A major area of research in the new study was computationally efficient decision-making under these conditions, called belief space planning. In order to solve this problem, an AI must weigh the costs and benefits of a potential action, which requires the researchers to predict how the “belief” will change over time.
The findings may help researchers solve decision-making problems using simplification and show that there are ways to save considerable amounts of computation time without a loss of accuracy.
Forsight Raised $10 million in seed funding in March 2021.
Israeli medtech startup ForSight Robotics is developing a surgical robotic platform to deliver what it describes as high precision and cost-effective vision-saving surgery. Forsight just raised $55 million in a Series A round of funding led by The Adani Group alongside existing investors Eclipse Ventures and Mithril Capital.
Founded in 2020 CEO Daniel Glozman, Ph.D., Joseph Nathan, M.D. and Moshe Shoham, Ph.D, Forsight declares that its mission is to transform the practice of ophthalmic surgery through a next generation robotic platform combining “state of the art robotic microsurgical technology, advanced visualization technologies, and next generation cognitive computing methods.”
Joseph Nathan previously directed healthcare commercialization at the Technion Israel Institute of Technology, where he forged partnerships worth over $1 billion with global pharmaceutical and med-tech companies. Daniel Glozman has specialized in robotics for medical applications for over 20 years, heading R&D at Medtronic Ventor Technologies, Magenta Medical, Diagnostic Robotics, and Guide-X — which he also founded.
Israeli medical professionals have been behind many new procedures to save people’s vision over the years. Losing your vision is one of the most frightening things which can happen to people. Israeli startup OrCam produces new technology for the blind and other people with visual deficiencies. Its MyEye is wearable technology that can give eyesight to the blind. But it does not heal them.
Forsight Robotics, however, tries to heal blindness. The company explains that many of the leading causes of blindness worldwide can be prevented through timely surgical procedures. Ophthalmic microsurgery is complex and challenging, requiring many years to master, and there is a shortage of trained ophthalmic surgeons to meet the demand worldwide. Creation of a robotic surgical platform will allow one to deliver consistent excellent results while scaling up ophthalmic surgery to solve the problem of preventable blindness worldwide.
“These are exciting times that will enable the transformation of ophthalmic surgery from art to science,” Forsight’s Dr. Joseph Nathan once declared.
“We are thrilled to bring robotics into the world of ophthalmic surgery,” Dr. Glozman once said. “Our goal is to democratize this highly sophisticated procedure, enabling patients around the world to easily access the treatment that can restore their vision.”