EndoWays Is Acquired by Ascendum

February 8, 2021—EndoWays Ltd, an Israel-based developer of a disposable robotic system for the catheterization lab founded in 2018, announced that Ascendum Capital has acquired a majority of its shares in a cash transaction. Terms of the transaction were not disclosed.

EndoWays’ fully disposable robotic system is designed to support navigation and operation within blood vessels in neurovascular, peripheral, and cardiac procedures.

Noam Shamay, founder and CEO of EndoWays, will serve as the company’s Chief Technology Officer after the acquisition. Professor Chaim Lotan, MD, will be EndoWays’ Chief Medical Officer.

According to the company, the deal will provide EndoWays with access to the experience and network of the Ascendum team to help accelerate the clinical and commercial development of its technology, especially in China.

EndoWays is a portfolio company of MEDX Xelerator, which is a medical device and digital health incubator founded by MEDX Ventures Group with three partners: Boston Scientific, Intellectual Ventures’ Invention Science Fund, and Sheba Medical Center in Tel Aviv, Israel.

Ascendum Capital is a health care–focused investment platform founded in 2020 that aims to accelerate research and development and the commercialization of health care technologies, as well as support health care companies for expansion or acquisitions with a particular focus on the Chinese market.

In the company’s announcement, Mr. Shamay commented, “Our vision is to provide an easy-to-use and cost-effective tool for the cath lab that will facilitate difficult procedures and allow physicians to work accurately through tortuous blood vessels away from radiation. With the support of Ascendum’s experience and resources we can continue to make this vision a reality.”

Prof. Lotan added, “The unique features of this robot can help navigate through torturous pathways and enable complex procedures. This, together with the reduced radiation exposure for the user through use of this system, makes this technology very attractive to interventional radiologists and cardiologists.”