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7 Health Ventures Invests in Tulip Medical

HERZELIA, Israel, September 15 /PRNewswire/ -- 7 Health Ventures, a professional venture capital fund dedicated to investing in healthcare technologies and products, announced today it had joined a deferred closing of Tulip Medical's round A of financing. Dr. Dalia Megiddo, founder and managing partner at 7 Health Ventures, will join Tulip's board of directors.

Tulip Medical Ltd. is a medical device company that is developing the next generation solution for the worldwide overweight and obesity epidemic, focusing on the overweight and mild obese markets.

"The company's products address one of the biggest and most urgent problems the world is facing, which is often referred to as the epidemic of the 21st century" said Dr. Megiddo. "To date, all existing treatments fall short of providing a solution for the ever growing population of the overweight and obese. These solutions are either very aggressive, such as surgery, or very limited in their clinical benefits. Tulip's device has the potential of providing a very effective solution while being extremely safe and easy to use."

Tulip's flagship product is a unique orally taken biodegradable solution wherein patients will experience a long term feeling of satiety free of the severe complications associated with existing solutions. The company has developed a disposable medical device that is swallowed as a regular capsule. The device's mechanism of action is purely mechanical and does not involve any chemical activity.

Tulip was incorporated in Israel in August 2005 by Dr. Shimon Eckhouse, Active Chairman of the company and Doron Marco which serves as the company's CTO. The Company operates from its offices in Herzelia, Israel, and is managed by CEO Allon Reiter.

About 7 Health Ventures

7 Health Ventures is a professional venture capital fund which invests in technology companies developing medical technologies, products and services. The fund which launched its activity in September 2007 had invested in 4 companies thus far. 7 Health Ventures is operating from its offices in Herzelia, Israel with a representation in the bay area, California, and puts its primary focus on Israeli and Israeli-related companies.

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SOURCE 7 Health Ventures
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