Olive Diagnostics, an eHealthVentures portfolio company, is on the cusp of receiving regulatory approval and beginning the product launch of their game-changing technology, the world’s first optical sensor for passive urinalysis in real-time. The company expects the first market introduction of their Olive KG in Q1 of 2022, to European elder care facilities and women’s health clinics. Soon thereafter, Olive Diagnostics anticipates rapid adoption throughout aged-care systems and private homes around the world.
Olive Diagnostics empowers users by providing easy access to their own health data, enabling people to create and sustain healthier lifestyles.
The Olive KG functions as an early warning system to detect the onset of infectious or chronic disease far earlier than conventional medical diagnostics. Early detection means early treatment when the patient is barely affected. The Olive KG shifts the emphasis from dealing with sickness to maintaining a patient’s wellness. For example, the Olive KG can detect the beginning of a kidney stone, when it can easily be treated by drugs. This replaces the patient responding to acute pains from a larger kidney stone and requiring hospitalization. The Olive KG can detect early symptoms of a potential heart attack, a stroke, a urinal tract infection, pneumonia,….
The Olive KG attaches easily to any toilet and analyzes the urine stream, combining advanced spectroscopy and AI to detect a variety of indicators for health and wellbeing that may be present in urine.
Olive Diagnostics has completed ISO 13485 certification for the toilet-mounted Urinalysis Sensor as a requirement for upcoming CE registration. This significant milestone of certification represents a crucial step in the company’s regulatory strategy and brings immense reward. The ISO 13485 for Accredited Medical Devices and Quality Management Systems (QMS) means Olive Diagnostics has demonstrated building the foundation to provide medical devices and related services that will consistently meet customer and regulatory requirements. Through its quality design, manufacturing, components, and development, the innovative new urinalysis device will change lives and revolutionize early disease detection one drop at a time.
This life-altering technology becomes the foundation for the early detection of a multitude of health inhibitors and life-threatening conditions that can be detected in urine. In real-time, users are enabled to leverage the ample health data flowing out of their bodies to better detect and manage illness. The Olive Diagnostics team is excited to soon see the Olive KG device initially hit European elder care homes and women’s health clinics in Q1 2022 with unprecedented potential for expansion throughout Aged-Care systems and individual homes around the world. Determination of the requirements for FDA approval in the US is planned to be completed soon.
“Taking our next step in building the #UriNation we will see our devices in aged care homes around the world!” said Guy Goldman, Founder, and CEO of Olive Diagnostics. “One might say ‘ur-ine luck’ with the volume of data that is seamlessly collected before a user can even flush. We are bringing home-based remote monitoring into the digital age and allowing users to better manage chronic illnesses through the continuous detection of urine-based biomarkers. We are proud and thrilled that our investors have recognized the golden opportunity.”
Olive Diagnostics has gained backing from several high-profile investors such as eHealthVentures and Maccabi Foundation (the private investment arm of Israel’s premiere healthcare giant, Maccabi Healthcare Services.)
“The innovation and potential that will be introduced with this technology is endless. When we consider the vast amount of information available in urine, it becomes obvious that this is a major area of opportunity for improvement,” said Dr. Joseph Rosenblum, CMO eHealthVentures.
“Olive’s sophisticated technology, which delivers instant molecular detection of a moving urine stream, provides an innovative new direction and will make the current modes of spot testing via cumbersome cup-paper-dipstick obsolete,” added Dr. Rosenblum.
Olive Diagnostics has engaged Palladium Capital Group to secure additional investors. This collaboration adds to Maccabi Foundation, eHealthVentures, and others as it seeks to close the post-seed investment round.
“Olive Diagnostics has introduced a truly innovative solution,” said Joel Padowitz, CEO of Palladium Capital Group. “At Palladium we seek to present investors with attractive opportunities with the potential for substantial returns, and we certainly believe Olive Diagnostics represents such an opportunity,” said Padowitz.
About Olive Diagnostics
Jerusalem-based Olive Diagnostics was founded in 2019 by CEO Guy Goldman and Corey Katz, a medical practitioner focused on wellness, based in California. Goldman previously founded OptimizeIT, which he sold to NASDAQ company Better Online Solutions. The CTO is Dr Yaniv Oiknin, a BGU graduate, and also in the development team is Ofer Melamed, a neuroscience Ph.D. from Weizmann. Olive Diagnostics has also recruited a team of data scientists.
The company has secured almost $2 million from Cleveland Clinic, Amgen, Israeli Innovation Authority, eHealthVentures and private European fund Venturing, and American investors. Maccabi Entrepreneurship is the lead investor in the current series which aims at achieving $5 million.
About JLM- BioCity
News on the many life science and healthcare companies in the Jerusalem area can be seen at https://jlm-biocity.org/jlm-biocity-innovations/. Join the JLM-BioCity linkedin group at https://www.linkedin.com/groups/7060787 to get the news updates sent to you and to be part of the JLM-BioCity community.
JLM-BioCity is a non-profit organization focused on developing and excelling Jerusalem’s bio-community.
We invite you, researcher, professional, investor and executive to become part of our vision, in building Jerusalem’s Biomed eco-system.
If you want your Company featured in our blogs , news releases, please contact: info AT jlm-biocity.org