Tel Aviv, June 30th, 2020
EfA (Engineering for All) announced the close of a post-seed financing round. New private investors will lead the round with current investors (eHealth Ventures and Merchavia) re-investing and continuing to support the company. The company is extending the closing period for a limited time, allowing additional investors to join. EfA will use the funds to finalize R&D and validation studies of its groundbreaking RevDx©, advance FDA approval, and begin manufacturing.
The RevDx© device is the first affordable hand-held device that performs complete blood count (CBC) tests on the spot, by the end-user, with no clinical expertise required. CBC tests are crucial for diagnosing infectious diseases, hematological malignancies, and immune system deficiencies. CBC is the #1 blood test requested worldwide. 3.6 billion tests are done , with 450 million of those tests performed in the US alone. Further, the current health crisis is causing demand for digital diagnostics to skyrocket, only emphasizing the increased need for automated self-administered blood testing. In May, EfA secured an R&D grant from the Israel Innovation Authority earmarked for companies developing innovative solutions in the fight against CoVid-19.
The global point-of-care diagnostics market will reach $38B by 2022, with the US representing just under $10B of that opportunity. EfA will first target the primary care physician and home care segments.
“The RevDx© device will be the first truly mobile diagnostics tool to deliver laboratory quality results accurately and fast” said Yoel Ezra, CEO of EfA. “Medical professionals virtually anywhere will easily get CBC results, allowing for accurate diagnoses and more testing as a whole.”
Talor Sax, CEO of eHealth Ventures commented: “We are proud to continue our support and reinvest in EfA. This is a truly groundbreaking solution which is even more essential in light of the CoVid crisis. Our expertise in digital diagnostics allows us to connect the company to several clinical sites and the data the company will generate will push it aggressively towards the market”.
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EfA (Engineering for All) Technologies is a team of medical, technology, optical, bio-engineering, machine-learning, BizDev and Finance experts dedicated to making digital diagnostics truly accessible while delivering the accurate and actionable results necessary for medical diagnoses and treatment in the 21st century.
About eHealth Ventures
eHealth Ventures is a multinational consortium of world-class medical organizations, industry leaders, and seasoned financial investors. Partners include Maccabi – Israel’s leading HMO, the Israeli Innovation Authority (IIA), Amgen – a global biotechnology leader, Medison Pharma – a leading Israeli pharmaceutical distributor and SCI – a major Chinese VC fund. eHV is focused on Digital Diagnostics and Home Care, has reviewed over 1100 projects and invested in 12 innovative companies.