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7 Health Ventures Invests in Tulip Medical

Tuesday, September 16, 2008 General News
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HERZELIA, Israel, September 15 7 Health Ventures, aprofessional venture capital fund dedicated to investing in healthcaretechnologies and products, announced today it had joined a deferred closingof Tulip Medical's round A of financing. Dr. Dalia Megiddo, founder andmanaging partner at 7 Health Ventures, will join Tulip's board of directors.
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Tulip Medical Ltd. is a medical device company that is developing thenext generation solution for the worldwide overweight and obesity epidemic,focusing on the overweight and mild obese markets.
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"The company's products address one of the biggest and most urgentproblems the world is facing, which is often referred to as the epidemic ofthe 21st century" said Dr. Megiddo. "To date, all existing treatments fallshort of providing a solution for the ever growing population of theoverweight and obese. These solutions are either very aggressive, such assurgery, or very limited in their clinical benefits. Tulip's device has thepotential of providing a very effective solution while being extremely safeand easy to use."

Tulip's flagship product is a unique orally taken biodegradable solutionwherein patients will experience a long term feeling of satiety free of thesevere complications associated with existing solutions. The company hasdeveloped a disposable medical device that is swallowed as a regular capsule.The device's mechanism of action is purely mechanical and does not involveany chemical activity.

Tulip was incorporated in Israel in August 2005 by Dr. Shimon Eckhouse,Active Chairman of the company and Doron Marco which serves as the company'sCTO. The Company operates from its offices in Herzelia, Israel, and ismanaged by CEO Allon Reiter.

About 7 Health Ventures

7 Health Ventures is a professional venture capital fund which invests intechnology companies developing medical technologies, products and services.The fund which launched its activity in September 2007 had invested in 4companies thus far. 7 Health Ventures is operating from its offices inHerzelia, Israel with a representation in the bay area, California, and putsits primary focus on Israeli and Israeli-related companies.For more information: [email protected], http://www.7healthventures.com, +972-9-9520214

SOURCE 7 Health Ventures
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