FBC represented OrbiMed in its $5,325,000 investment in MobileODT Ltd. as part of a Series B Round of approximately $6,825,000 investment, in addition to conversion of SAFEs (“simple agreement for future equity”) in the amount of $3,905,223.
The transaction included complex questions with regard to the applicability of the Israeli Securities Law and IP.
MobileODT is a medical device and software-enabled services company which combines the power of biomedical optics with the computational capabilities and connectivity of mobile phones. MobileODT’s first product is a FDA cleared internet-connected mobile colposcopy, which can enable any health provider around the world to perform expert-level visual-based diagnosis to catch diseases at an early stage. MobileODT is currently concentrating on cervical cancer screening in developing countries.
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