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Capital IP and Ghost Tree Provide $40MM to Israel-based Women Health focused ConTIPI Medical
June 6, 2023
IRVINE, Calif. & SAN FRANCISCO & CAESAREA, Israel–(BUSINESS WIRE)–Capital IP Investment Partners (“Capital IP”) and Ghost Tree Partners, announced they have secured a total of $40MM of structured capital to ConTIPI Medical Ltd (“ConTIPI”), an innovator in the field of providing non-surgical and disposable solutions for women with various pelvic floor disfunctions. The proceeds will be used to bring ConTIPI’s new product, ProVate, to the market.
After the success of ConTIPI’s Impressa Device for Stress Urinary Incontinence and its acquisition by Kimberly Clark, ConTIPI’s following innovation is the ProVate Device, intended to manage Pelvic Organ Prolapse (“POP”) in women. At present, the available treatment options for POP involve invasive surgery, with a failure rate of up to 30%, or the use of non-invasive pessaries, which require a physician’s assistance and are associated with several adverse events. ProVate will allow women to take control over their own treatment with a non-surgical and disposable solution that comes ready-to-use within a disposable applicator, to be used vaginally by the user at her will, very similar to a menstrual tampon. The device has a 510(k) clearance from the FDA and the CE mark in Europe.
Simultaneous with securing the financing, ConTIPI established a commercial partnership with Indegene, a life science commercialization company, who will provide several services across the commercialization process, including sales, PRMA (pricing, reimbursement, and market access), medical affairs, medical communications, pharmacovigilance, regulatory, marketing, and commercial operations support. Indegene will help ConTIPI deploy highly effective and efficient curated sales and marketing strategies (https://www.indegene.com/).
“We are very excited to secure the financing round for the ProVate device, with experienced investors such as Capital IP and Ghost Tree Partners, and at the same time also close our agreement with Indegene. Gathering of secured capital, devoted financial advisors from Bourne Partners, and talented marketing, will drive the project to the place it deserves to be, helping millions of women, globally,” said Dr. Elan Ziv, CEO & Medical Director at ConTIPI.
Capital IP Managing Partner Aron Dantzig, and Ghost Tree Partners Managing Director David Byrne, stated “Capital IP and Ghost Tree Partners are excited and incredibly proud to have provided a unique financing solution for ConTIPI’s groundbreaking ProVate device, POP is a prevalent condition affecting millions of women globally. The introduction of the ProVate device signifies a turning point in addressing these challenges. It empowers women to regain crucial control over their medical treatment and conveniently manage it within the comfort and privacy of their own homes. Capital IP and Ghost Tree feel deeply honored to be part of this innovative device, which we firmly believe will have a profoundly positive impact on the lives of women worldwide.”
Bourne Partners served as the exclusive financial advisor to ConTIPI Medical Ltd.
About ConTIPI Medical Ltd
ConTIPI Medical, and its associate company ConTIPI Limited, both located at the Caesarea Industrial Park in Israel, provide non-surgical and disposable vaginal solutions for women with various Pelvic Floor Disorders. For more information, please visit https://contipi.com/.
About Capital IP Investment Partners
Capital IP Investment Partners (“Capital IP” or “CapIP”) is a minority co-founded specialty credit firm focused exclusively on investments in technology and technology-enabled businesses. Our collaborative approach to investing, combined with our technology-industry expertise, allows Capital IP to assess the intrinsic value of growing technology businesses and to offer a range of novel, creative financing solutions. The principals of CapIP have historically invested over $1.3 billion in innovative, emerging companies. For more information on Capital IP Investment Partners, please visit: www.capitalip.com.
About Ghost Tree Partners
Headquartered in Irvine, CA, Ghost Tree Partners is an alternative asset manager focused on providing private credit financing solutions to small and middle-market borrowers in the US and developed Europe and Asia. Founded in 2021, the firm is led by Mark Fox, Scott Warner, Jeff Willardson and David Byrne, who combine for over 85 years of investment experience with Goldman Sachs, Bain Capital Credit, Fidelity and PAAMCO Prisma (KKR affiliate). At Ghost Tree, their private credit financing solutions include corporate cash flow loans, specialty finance, asset backed lending and real estate bridge loans. For more information on Ghost Tree Partners, please visit: https://gt-gp.com/.
About Bourne Partners
Bourne Partners is a financial services firm specializing in the pharma, pharma services, consumer health, and healthcare services sectors. Located in Charlotte, North Carolina, the company offers investment banking and transaction advisory services. As owners and operators with over 20 years of experience, Bourne Partners strives to enrich the lives and improve the health and well-being of their partners and patients by facilitating the efficient movement of capital through the global healthcare sector. For more information, please visit here.