Zsquare, developer of the MultiPly single-use endoscopic platform, has secured $10m in financing for further development of its revolutionary MultiPly Mini 0.45mm fiber endoscope, towards expedited FDA 510(k) clearance.
This $10m round of new financing was led by Chartered Group, who previously invested in Zsquare, and who have a strong presence and broad networks in East Asia and Japan, signaling full confidence in Zsquare’s technology and abilities going forward.
Zsquare’s platform offers the only ultra-thin, flexible, high-resolution, single-use endoscope that enables access to unserved indications and improves usability and diagnosis quality in commonly practiced indications.
The endoscope’s unique single-use properties eliminate the risk of infection caused by contaminated, reused endoscopes, and dramatically reduce healthcare costs.
At the core of Zsquare’s endoscopes are its unique 0.45mm square fibers, which provide a distinctive building-block-style modularity. Starting from a single-fiber imaging endoscope, additional medical indications can be addressed as more fibers are bundled in, with enhanced functionality and performance that include higher resolution, 3600 angulation, 3D capabilities, extended depth of field, extended field of view, and more.
Zsquare’s special combination of single-use, flexibility, tiny dimensions, and high-resolution imaging is a breakthrough in endoscopic technology, delivering higher performance in a smaller package than any current endoscope, giving the physician, for the first time, the best of all worlds.
“Zsquare is set to revolutionize the landscape of endoscopic care by introducing a game changing modular, single-use concept, opening the door to endless new and exciting integrations in the minimally invasive care world,” says Eyal Agmoni, Chairman of Chartered Group.
According to Asaf Shahmoon, CEO and co-founder of Zsquare, “This investment is a vote of confidence in Zsquare’s unique platform. We firmly believe that our endoscopes will not only transform current practices, but also democratize procedures, by expanding the reach of endoscopic-assisted care to outpatient clinics and developing-world settings.”
Zsquare, a privately-held medical device company with headquarters in Israel, develops single-use, high-performance endoscopes to enable access to unserved indications, improve performance in current practices, and solve the industry’s cross-contamination problem.
Source: Company Press Release