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Pitango HealthTech II makes initial seed investmentsinQuantHealth.ai and Nevia Bio

HERZLIYA, Israel, Sept. 6, 2023 /PRNewswire/ --Pitango HealthTech, Pitango VC's dedicated healthcare fund, today announced the first closing of its second dedicated healthcare fund, Pitango HealthTech II. Pitango HealthTech II, a $175M fund, will be dedicated to investing in entrepreneurs leveraging data science, AI, medical devices and novel biology at the forefront of the transformation of healthcare.

The $9 Trillion global healthcare market is undergoing dramatic shifts, and Israeli entrepreneurs are building companies that are spearheading this transition.

Pitango HealthTech II invests in healthcare innovation, including the decentralization of healthcare, personalized medicine, medical devices and diagnostics, as well as artificial intelligence, software and data infrastructure.

"Despite the global and local macroeconomic challenges, the healthcare sector continues to show resilience and growth. Recent events such as the pandemic, decentralization of healthcare, and value-based care, have resulted in unprecedented openness towards the adoption of new technologies," said Ittai Harel, Managing Partner at Pitango HealthTech. "We're launching this new fund to continue to back entrepreneurs and invest in companies that are revolutionizing the healthcare industry. Pitango believes that the most promising healthcare innovations occur at the convergence of life science and medical technologies with data science and AI, coupled with innovative services. This revolution is at its early onset, and is yet to accelerate."

Pitango HealthTech invests in companies from seed to commercial stage. The fund's investment strategy is focused on all segments of healthcare and life sciences. Previous investments include value-driving companies such as Protai, Laguna Health, Vertos, Visby, Clew and Magenta. The first investments of the newest fund are QuantHealth.ai, an AI company focused on clinical trial simulations to accelerate and de-risk drug development, and Nevia Bio, a FemTech company developing an AI-based biomarker platform for early detection of women's health diseases.

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"The current environment offers great investment opportunities for health tech investors," said Hila Karah, Managing Partner at Pitango HealthTech. "Our team has decades of experience working with global healthcare providers, payers, medical device and pharma companies. We garner this expertise to support our portfolio companies from inception to scale. We're seeing an incredible generation of companies being formed right now and are looking forward to working with the best of them."

The Pitango HealthTech team is made up of Ittai Harel (Managing Partner), Hila Karah (Managing Partner), Dr. Jonathan Glazer (Partner), JoelSchoppig (Senior Principal) and Dr. Seth Rudnick (Special Advisor).

Pitango HealthTech is committed to promoting diversity within the healthcare technology space, upholding ESG standards and ensuring women founders in the domain receive the same access to investment opportunities.

Pitango HealthTech is part of the Pitango investment platform, operating alongside Pitango First and Pitango Growth Funds. Since its inception in 1993, Pitango has invested in over 250 companies and seen more than 85 become publicly traded companies, or acquired by strategic players.

"Pitango has been a key player in the healthcare ecosystem in Israel since its inception. Over the last three decades we've had the opportunity to invest in over 50 healthcare companies and see 15 of them exit successfully and many others on a strong growth trajectory," said Rami Kalish, Managing Partner and Co-Founder at Pitango. "It's a track record we're proud of and that gives us the confidence to double down with a second dedicated healthcare fund."

About Pitango HealthTech

HealthTech is Pitango's dedicated health tech fund investing in seed to commercial stage companies, ranging from digital health, medical devices, techbio and diagnostics, foodtech, ag-tech, biotech and life sciences. Pitango HealthTech investors combine clinical and operational experience with nearly three decades of investing in over 50 healthcare companies, with 15 successful exits.

About QuantHealth

QuantHealth has built a unique AI-based clinical trial simulation platform that allows pharmaceutical companies to simulate their upcoming clinical trials in a cloud environment, and test thousands of protocol variations to discover the trial design that will maximize the likelihood of success. The Tel Aviv based company is led by Orr Inbar and Arnon Horev.

About Nevia Bio

Nevio Bio is revolutionizing early disease detection in women, by developing a machine learning empowered platform for early detection of women's health indications. With non-invasive and easy-to-use diagnostics, Nevia aims to offer both point-of-care and at-home solutions. The Haifa based company is led by Dr. Inbal Zafir-Lavie and Dr. Shlomit Yehudai-Reshef, both experts in the life science field.

Media Contact

Sharon Erdesharon.e@pitango.com

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SOURCE Pitango HealthTech

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Pitango HealthTech Announces the First Closing of Its New Fund, Pitango HealthTech II - Yahoo Finance