Company Recognized for Novel Solution to Combat Growing Threat of Antibiotic Resistance
HAIFA, Israel, July 1, 2019 /PRNewswire/ -- MeMed Ltd., the developer of a cutting-edge immune system-based diagnostic that distinguishes between bacterial and viral infections at the point of care, today announced its recognition as a 2019 World Economic Forum Technology Pioneer, one of 56 companies selected worldwide.
The Technology Pioneers are a global community of early- to growth-stage companies poised to transform a wide range of industries and have a significant impact on business and society. The World Economic Forum selected MeMed for its ground-breaking approach to helping doctors avoid prescribing ineffective medicines and treatments, thus combating the rise of drug-resistant pathogens.
"We're excited to welcome MeMed to this year's innovative class of technology pioneers," says Fulvia Montresor, Head of Technology Pioneers at the World Economic Forum. "MeMed and its fellow pioneers are leaders in using novel technologies to transform their industries. We see great potential for these next generation companies to shape solutions to global challenges and improve society for years to come."
MeMed's mission is to translate the immune system's complex signals into simple diagnostic insights that can be used to transform the way infectious diseases and inflammatory disorders are diagnosed and treated, profoundly benefiting patients at both the individual and societal level. The Israel-based company's breakthrough immune-based protein signature MeMed BV™ quickly and reliably determines whether an infection is caused by bacteria that will respond to an antibiotic, or by a virus which antibiotics cannot treat. MeMed BV™ has been validated by an unprecedented level of high-quality data from double-blinded clinical studies conducted worldwide.
"It's an honor to be recognized as a 2019 Technology Pioneer by the World Economic Forum and join a community of mission-driven companies working to improve lives on a global scale," said Dr. Eran Eden, Co-Founder and CEO of MeMed. "Our goal is to develop solutions to the world's greatest healthcare challenges and make a meaningful difference in patients' lives, beginning with antimicrobial resistance."
Dr. Kfir Oved, MeMed's Co-Founder and CTO, added: "We're delighted by this recognition from the World Economic Forum. It reaffirms our commitment to enabling broad access to quick, effective diagnostic tests and a cultural paradigm shift away from overprescribing antibiotics. These are critical steps to preventing the emergence and spread of drug-resistant bacteria and protecting public health."
Drug-resistant diseases cause at least 700,000 deaths worldwide every year, "a figure that could increase to 10 million deaths globally per year by 2050," according to a United Nations report released in April 2019. To accelerate efforts to combat this threat, MeMed also developed MeMed Key™, an easy to use platform that measures proteins with high precision at the point of care and runs MeMed BV™ in 15 minutes. The platform will also support the expansion of MeMed's pipeline of innovative diagnostic tests, which integrate machine learning capabilities with immune-based measurements, to address a range of clinical challenges.
MeMed joins a diverse cohort of 2019 Technology Pioneers selected by an international committee of more than 59 academics, entrepreneurs, venture capitalists and corporate executives brought together by the World Economic Forum. Past honorees include Airbnb, Editas Medicine, Foundation Medicine, Google, Kickstarter, Mozilla, Proteus Digital Health, Spotify and Twitter.
Eden will participate in the World Economic Forum Annual Meeting of the New Champions in Dalian, China, July 1-3, 2019. His presentation on the public health concerns that stem from misusing and overprescribing antibiotics will take place at 11:45 am (local time) on Wednesday, July 3, 2019.
About The World Economic Forum: The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).
About MeMed: MeMed is the developer of a cutting-edge immune system-based diagnostic that distinguishes between bacterial and viral infections at the point of care. Our mission is to translate the immune system's complex signals into simple diagnostic insights that can be used to transform the way infectious diseases and inflammatory disorders are diagnosed and treated, profoundly benefiting patients at both the individual and population levels. We developed and validated MeMed BV™, our pioneering immune-based protein signature, over the course of decade-long collaborations with leading academic and commercial partners, providing physicians with an indispensable tool in the fight against resistant strains of bacteria – one of the biggest healthcare challenges of our time. An ELISA format of MeMed BV™, called ImmunoXpert™, is cleared for use in the European Union (CE-IVD), Switzerland and Israel and is currently in pilot distribution in these markets. MeMed also developed MeMed Key™, a groundbreaking platform that makes it possible to precisely measure multiple proteins and signatures, both existing and new, within minutes at the point of care. Today, we are expanding our network of partnerships with internationally renowned academic, commercial and government stakeholders to advance, validate and facilitate the global availability of our platform and tests. For additional information on MeMed, please visit http://www.me-med.com.
Media: Adee Mor, VP Marketing, MeMed
Investor: Kfir Emmer, VP Finance, MeMed