GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Technology

 
  Share

Funds two next-generation robotic technology companies developed at the University of Texas Medical School and incorporated in the US

Sharjah-UAE: 28 November, 2017 -   UAE-based multinational company, Crescent Enterprises, has announced the successful closing of its investment in ColubrisMX and XCath, two next-generation micro-robotic medical device companies through its newly launched corporate venture arm, Crescent Enterprises Venture Capital (CE-VC). 

Developed at the University of Texas Medical School's Microsurgical Robotics Laboratory and incorporated in Texas, USA, both companies design and develop next-generation robotic technologies that are expected to revolutionise healthcare development in their respective fields. 

Leading the Series A round of funding with a total of US$16 million, CE-VC shall be funding the manufacturing of prototypes of the medical devices under development by ColubrisMX and XCath in conjunction with co-investors. The funding will also aid in testing and clinical studies outside the United States. 

ColubrisMX is developing a state-of-the-art, minimally invasive, microsurgical robotic device that can treat life-threatening conditions such as fetal malformations and brain abnormalities through microsurgery. XCath, on the other hand, is developing next-generation steerable robotic microcatheters for treating endovascular conditions such as cerebral strokes. With microsurgical robotic devices, patients can be treated remotely, especially those who live in parts of the world where special surgical procedures are not otherwise readily accessible.

The founder of ColubrisMX and XCath, Daniel H Kim, MD, is a distinguished professor of neurosurgery at the University of Texas in Houston, United States. Under his proven leadership, both as a doctor and inventor, a team of highly qualified computer scientists, robotics engineers and health practitioners have come together to work on devices that push the boundaries in medical science technology. 

Badr Jafar, CEO of Crescent Enterprises, said: “At Crescent Enterprises, our operating and investment history in healthcare demonstrates our commitment to technological advancement and innovation. The launch of CE-VC, which is committed to supporting early-to-later stage start-ups validates this priority. In addition to ColubrisMX and XCath, CE-VC has invested in a wide-range of technology-driven start-ups over the last two years.” 

Our latest investment in these two disruptive microrobotic medtech companies validates this priority. The cutting-edge medical devices being developed by ColubrisMX and XCath have immense potential as they are less invasive and more flexible than the current robotic assisted surgery technology available globally. These technologies will not only create value for both companies but also advance the field of medical science and benefit the lives of people.

“We are excited to enter the healthcare technology market, and to work with Dr Kim and his brilliant team to set new benchmarks for innovation in medical technology. Through this investment we hope to build an ecosystem that encourages similar levels of research and development in the field of medical science in the region. The healthcare industry across the GCC has witnessed substantial growth as well as a shift toward medical technological innovation. and we look forward to collaborating with medical practitioners and technologists in the region to identify new avenues for growth.” 

For his part, Dr Daniel H. Kim said: “We are delighted to welcome Crescent Enterprises into our fold. Crescent's investment into ColubrisMX and XCath at a critical time of the development of the prototypes will help take it to the next level of manufacturing the devices and accelerate their entry into the market. The faith shown by Crescent and other investors in ColubrisMX and XCath demonstrates not only the commercial potential of the products but also the business model that we have in place. Going forward, our collaboration will help establish the two companies as leaders in the field, pushing the frontiers of cutting edge medical technology.” 

Crescent Enterprises has a strong track record in the healthcare sector. Earlier this year, the company successfully sold its stake in Clinical Pathology Services (CPS) to MenaLabs, a division of the prestigious international network of medical biology laboratories, Cerba HealthCare. Furthermore, the company holds a strategic investment relationship with the leading healthcare focused private equity firm TVM Capital Healthcare Partners that includes a representation on the firm's advisory board. As the majority investor in ColubrisMX and XCath, Crescent Enterprises will also have representation on the board of both companies.
Crescent Enterprises has been active in the corporate venture capital space, which it views as critical to its long-term business strategy. In November 2017, the company launched CE-VC, which plans to invest US$ 150 million over the next three years, making it one of the largest corporate venture units in the Middle East and North Africa. 

 



Posted by : GoDubai Editorial Team
Viewed 7094 times
Posted on : Tuesday, November 28, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Fortinet Expands Fabric-Ready Program with Amazon Web Services
Next Story : du Puts Competition Winner on the Track with an Incredible Formula 1 Family Trip
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Let It Glow
Filorga Launches FLASH-NUDE Collection
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of th...
Let All Your Photos Be Merry & Bright
Chrono 4 Grande Taille - an extra-special timepiece
HP ProBook x360 11 G3 and G4 Education Edition
30 Years of Ryder Cup Heroes Confirmed for the 30th Edition of the Omega Dubai ...
Maintain Healthy Skin Year Round
PopSockets launches a new collection with crystals from Swarovski, the must-have...
Free gold coins at Malabar Gold & Diamonds Festival
MIDO Baroncelli Lady Day & Night collection
American Eagle Is the Go-to Destination for Gifting This Holiday Season'
24 Karat Gold Elixir by Mehrunisa Launches in the UAE Beauty Market
The Interiors Gift Guide with Home and Soul
Newby Teas Launches Advent Calendar For Christmas 2018
GAZOO Racing Wins Australia Rally at FIA World Rally Championship
Golden Mile Galleria's ‘A Cultural Flair' attracts hundreds of art lovers to Pal...
Interview with Asil Attar, CEO of Al Yasra Fashion
Tissot Chemin des Tourelles
Get Ready for Party Season with Lottie's new make-up hits
Festive Gift Sets from Bubble T
Holiday Gifting Made Easy with Wet n Wild Beauty Specials
Holiday Handbags | GUESS
Growth and inclusivity drive Avaya's channel strategy for 2019
Tissot PR100 Lady Sport – Chic Glamourous Festive Season
Time For Enchanting Moments
Winter wool Christmas must- haves
New 1948 Seamaster Watches Join the Ranks'
BharatMatrimony launches office in Dubai targeting 2 Million Indians
Samsung Galaxy A9 – Designed to capture the world in its fullest
Michael Kors Collection Transeason 2019 Press Presentation
Tissot PR100 Lady Sport – Chic Sporty yet Feminine
Chic and Stylish Wraps with a 3 in 1 effortless concept
Five-Star Euro NCAP for Jaguar's Electric I-PACE
France Attractiveness Scoreboard 2018 Released
Global Knowledge Index 2018 and The Future of Knowledge: A Foresight Report shin...
UOWD's quality management expert wins ASQ-UAE Quality Professionals Award
New Menu alert: Moombai & Co. launches exciting and delicious food items to its menu
9th Edition of China Homelife Exhibition to Have Over 3000 Exhibitors Across Bus...
Dubai's Most Magical Festive Market Opens at Dubai Festival City Mall
Ring in a dazzling festive season at Ibn Battuta Mall
Els Back for the 30th Omega Dubai Desert Classic Aiming for a Record Fourth Victory
Chinese Manufacturing Companies to Highlight Trade Opportunities in Middle East
FBMA and 47 Emirati women celebrate UAE National Day
Dubai Customs wins 3 awards from Ideas UK 2018
Raja Al Gurg is one of Forbes Magazine's 100 most powerful women in the world
Jury Announced for Epson's First Ever Win-A-Robot Competition in Europe, The Mid...
Dubai Shopping Festival Wednesday Specials at The Smile Bar
Spinneys Dubai 92 Cycle Challenge | Road Closure Timings
New ACH145 Mercedes-Benz Style Cabin Model Highlights First Presence at MEBAA fo...