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SOURCE The Trendlines Group
Trendlines Medical and two portfolio companies of The Trendlines Group keep Trendlines on its award-winning path
TEL AVIV, Israel, June 11, 2014 /PRNewswire/ --Trendlines Medical
received the Best Incubator award and two Trendlines portfolio companies received Best Start-up of the Year - Advanced Mem-Tech (Trendlines Agtech) and MitrAssist (Trendlines Medical) - from Israel's Office of the Chief Scientist of the Ministry of Economy (OCS).
This is the third year running that Trendlines' companies have received OCS awards. The recognition verifies the hard work and diligence of the companies and of Trendlines' investment methodology and portfolio company support business model. (Portfolio companies Liola and MediValve were among the 17 Best Start-up nominees.) Trendlines Medical has twice received the prestigious Best Incubator award; the first time in 2010. Eran Feldhay, CEO of Trendlines Medical, says: "This honor is a testimony to our business processes and continued commitment to partnering with entrepreneurs to develop medical device technologies that improve patient outcomes and reduce health care costs."
Advanced Mem-Tech develops innovative filtration membranes that separate solids from water during the treatment and purification of wastewater and clean water. Last year, the company's founders were awarded the prize for Innovative Applied Engineering Research by the Technion-Israel Institute of Technology. Earlier this year, the company completed a $5 million capital raise. Nitza Kardish, CEO of Trendlines Agtech: "We are extremely proud of what Advanced Mem-Tech has achieved. This award reinforces our commitment to establishing companies that are focused on 'improving the human condition' while increasing production and enhancing sustainability."
The minimally invasive implant from MitrAssist treats Mitral Regurgitation (MR), a condition that prevents the heart's mitral valve from closing properly. Working in unison with the heart's own valve, the proprietary implant uses a "valve-in-valve" approach to create a safe, cost-effective treatment solution for all MR patients. MitrAssist completed a $1 million raise in 2013.
Todd Dollinger, Chairman and CEO of Trendlines: "We are very proud that the OCS has again recognized Trendlines Medical and our portfolio companies - one from each of our incubators - and we greatly appreciate the outstanding work of our staff in helping our companies reach these excellent achievements."
About The Trendlines Group Ltd.
Trendlines creates and develops life science companies in accordance with its mission to improve the human condition. To that end, it discovers, invests in, incubates and provides services to, medical and agricultural technology companies, all of which are based in Israel. Trendlines' internal invention center, Trendlines Labs, creates new technologies as principal and in collaboration with global companies and partners to address unmet market needs.
Media relations: Efrat Kaduri | Efrat@ofirpr.co.il | +972-04-9535030
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