illumigyn , the world’s first remote gynecological imaging platform, has raised $33M following the closure of its latest investment round. This current investment round includes the Yozma Group Korea and Ubicorn Holdings Japan which both led this latest funding round. illumigyn has also just signed a distribution agreement with Lambell Ghana Limited to deploy 850 Gynescopes in Ghana by 2026 and a distribution agreement with Peramare Pharmaceuticals Nigeria Limited to deploy 5,000 Gynescopes in Nigeria by 2026.
The funding will enable the company to accelerate its plans to bring cutting-edge gynecological imaging to women across the globe starting this month with deployments in the United States, United Arab Emirates, India, Singapore, Africa, and South Korea. The investment will also support illumigyn’s research and development efforts, which are geared toward turning illumigyn into a comprehensive solution for examining the lower genital tract and providing women across the world the best possible care for cancer and other diseases. This includes the worldwide availability of preventive screenings, evaluations, diagnoses, and treatments.
Cervical cancer was once the leading cause of cancer death for women in the United States, but the number of cases and deaths have “decreased significantly” in the last 40 years, according to the Centers for Disease Control and Prevention. In 2018, the most recent year recorded, the CDC tallied 12,733 new cervical cancer cases in the U.S., down from 13,753 in 1999.
“This decline largely is the result of many women getting regular Pap tests, which can find cervical precancer before it turns into cancer,” the federal agency reports.
Of new cervical cancer cases reported annually between 2014 and 2018, Hispanic and Black women make up a larger share than their white, Native American and Asian, and Pacific Islander counterparts, CDC data shows. Most cases are detected between the ages of 40 and 44, according to the data. As part of its vision to expand access to vital care for women worldwide, illumigyn developed a complete platform featuring the GynescopeTM System, a revolutionary “gynecology endoscope” and cloud platform service with an accompanying mobile application. The first FDA-cleared remote gynecological platform, the GynescopeTM, digitally documents the cervix, vagina, and external genitalia. High-quality resolution and superior magnification enhance details beyond the capabilities of traditional cervix exams, enabling more accurate pap smears.
The illumigyn GynescopeTM can be handled by any trained caregiver (OB/GYN, GP, Midwife, Nurse Practitioner, and Physician Assistant) so that women of all individual sensitivities can be assessed in a safe space, including in the comfort of their home. The HIPAA-compliant solution automatically uploads and securely stores images to the cloud. This allows a doctor or specialist to view the images remotely and provides women with access to their scans and doctors’ recommendations.
“This is another milestone in our vision to democratize women’s health care and bring advanced gynecological care to women worldwide,” said Mr. Ran Poliakine, illumigyn’s founder. “Our deployments this month are aligned with our mission to bring our platform to women everywhere, in developed and developing countries, in population centers, as well as remote communities. This is our mission and our commitment.”
“We are proud to introduce to the world a cutting-edge innovation that will ensure that women all over the world will feel safe during gynecological exams and will have access to all of their medical information,” said Dr. Avi Ludomirski, CEO and Chairman of the Board of illumigyn. “The funding secured by the company will be deployed to ramp up production and will enable illumigyn to execute existing distribution agreements and sign additional new global partnerships.”
“We are happy to be able to support illumigyn in its novel mission to bridge the gap between all women and outstanding healthcare and empowering women with state of the art, proprietary technology,” said Wonjae Lee, Head of Asia Pacific of the Yozma Group. “Our investment comes after our impressive discussions with the company’s leaders, whose vision is not only valuable in this current moment post-pandemic but is sure to shape the future of gynecology and how women can continue to access innovative and intelligent healthcare.”
illumigyn’s goal is to decrease overall cases and deaths by detecting problem cells or cancers earlier.
“This partnership will be life-changing for women in Ghana,” said Kwadwo Pocu, Director at Lambell Ghana Limited. “Cervical cancer ranks as the 2nd most frequent cancer among women in Ghana and the 2nd most frequent cancer among women between 15 and 44 years of age. Together with illumigyn, we hope to revolutionize women’s healthcare and quality of life in Ghana by making it accessible and affordable.”
“This agreement is great news for Nigerian women,” says Yaron Pinchas, Director at Peramare Pharmaceuticals Nigeria Limited. “Nigeria has almost 60 million women that are at risk of developing cervical cancer. Every year 12,000 women are diagnosed, and 8,000 – two-thirds of them – die from cervical cancer. We have to stop this trend, and a critical preventative measure is to introduce widely accessible cervical screening with the help of illumigyn.”
“We established illumigyn to democratize women’s healthcare and to bring advanced gynecological care to women worldwide – including cervical screening,” adds Mr. Ran Poliakine, illumigyn‘s Founder. “We have signed on to the WHO initiative to eradicate cervical cancer within a generation and are proud to be part of driving change across Africa.”
About illumigyn
illumigyn, founded by Ran Poliakine and Lior Greenstein in 2012, is an Israeli corporation focused on powering women’s health and making it accessible and affordable for every woman worldwide. illumigyn’s vision is to disrupt the medical field of gynecology with a complete platform solution featuring the GynescopeTM System, a revolutionary FDA cleared “gynecology endoscope” and cloud platform service.
The technology digitally documents a woman’s cervix, vagina, and external genitalia with high-quality images that can be magnified to see details that might go unnoticed in a traditional Pap smear test. Illumigyn’s goal is to decrease overall cancer cases and deaths, detecting problem cells or cancers earlier.
With illumigyn’s technological know-how and expertise, illumigyn’s vision is to then create an ecosystem that powers all facets of women’s health.
For more information, please visit https://www.illumigyn.com/
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Source: Crunchbase Nov 3, 2021
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