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Several analysts, journalists and NextInsight will be in Israel from today (Monday) till Thursday to visit The Trendlines Group. |
Steve Rhodes, Co-Chairman & Co-CEO of The Trendlines Group.
NextInsight file photo.Trendlines Group Co-CEO Steve Rhodes was in Singapore just last week (21 Jan 2016) where he hosted an investor briefing organised by NextInsight (open invite was published here).
Among the many interesting technologies being developed by Trendlines' portfolio companies is one that promises to dramatically enhance the quality of life of people who have undergone colostomy.
In that procedure, after a part of the colon has been removed due to a disease such as cancer, one end of the colon is sutured to the side of the abdominal wall and an opening created to allow faecal matter to enter a disposable bag.
"It's life-saving but it has a huge negative impact on the quality of life. For 65 years, no one has succeeded in coming up with a technology to get rid of the bag until our portfolio company, Stimatix GI, came along," said Mr Rhodes.
The device by Stimatix allows users to regain control of their lives. Photo: http://www.israel21c.org/
Stimatix has developed a "cap" that sits over the opening in the abdominal wall. "If you see someone wearing it, you'd think it's a bandage as it's skin color and flat."
How it works: "When the person feels pressure building up behind it, he goes to a bathroom, remove the cover and a bag folded up inside comes out. It is removed and disposed of, and a new one is put on."
Stimatix was awarded "Best Start-Up 2011" by Israel’s Office of the Chief Scientist of the Ministry of Economy.
With CE and FDA approval already secured, the device can now be sold in Europe and the US. This year, Stimatix will build up its capability for mass-production and targets to deliver the device to the market in early 2017.
Worldwide, about 1.5 million people use ostomy bags daily. The ostomy care market is worth about US$2 billion annually with three ostomy bag suppliers (ConvaTec, Coloplast, and Hollister) supplying to more than 90% of the market.
Trendlines first invested in Stimatix in 2009 and currently owns a 27.17% stake in it. For more, read this story.
