MISGAV, Israel, April 20, 2015 /PRNewswire/ --
Endobetix Ltd., a developer of a minimally invasive, nonsurgical implant for the treatment of type 2 diabetes and obesity and a portfolio company of The Trendlines Group, announced today it has been selected as a finalist for Red Herring's Top 100 Europe award, a prestigious list honoring the year's most promising private technology ventures from the European business region.
The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across Europe. The nominees are evaluated on 20 main quantitative and qualitative criteria: they include disruptive impact, market footprint, proof of concept, financial performance, technology innovation, social value, quality of management, execution of strategy, and integration into their respective industries.
This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the "buzz" and make the list a valuable instrument for discovering and advocating the greatest business opportunities in the industry.
Endobetix offers remission of type 2 diabetes with a simple, effective solution. The minimally invasive, nonsurgical implant for the treatment of type 2 diabetes and obesity developed by Endobetix mimics the hormonal benefits offered by bariatric surgery. For many patients with diabetes, surgery is not an option and combination oral therapy is inadequate. The Endobetix implant provides a much safer and significantly less costly option than current solutions.
Chen Porat, CEO of Endobetix, remarked, "We are very excited about our selection as a finalist for this award. As an out-of-the box treatment for diabetes - a disease that has reached epidemic proportions - Endobetix indeed fulfills the criteria of the competition. We are confident that our product will bring about a significant improvement in the treatment of type 2 diabetes and obesity."
"This year was rewarding, beyond all expectations," said Alex Vieux, publisher and CEO of Red Herring. "There are many great companies producing really innovative and amazing products in Europe. We had a very difficult time narrowing the pool and selecting the finalists. Endobetix shows great promise and therefore deserves to be among the Finalists. Now we're faced with the difficult task of selecting the Top 100 winners of Red Herring Europe. We know that the 2015 crop will grow into some amazing companies that are sure to make an impact."
Finalists for the 2015 edition of the Red Herring 100 Europe award are selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, mobile and other industries completed their submissions to qualify for the award.
The Trendlines Group is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building.
SOURCE Endobetix Ltd