novoGi

novoGI, established in 1996 by Gavriel Meron, operated in the medical device sector with a focus on gastrointestinal (GI) disease management. The company, which previously operated under the name NiTi Surgical Solutions, is no longer active, having ceased operations around June 2014. Throughout its operational history, novoGI established a global presence with its U.S. headquarters in Atlanta, Georgia, research and manufacturing facilities in Netanya, Israel, and European headquarters near Paris, France.

The company's core business involved providing surgical devices for patients undergoing colorectal resection procedures. Its business model was centered on the development and sale of these specialized medical products to hospitals and surgical centers. The primary product was the LARA™ device, a compression anastomosis tool made from nitinol, a nickel-titanium alloy. This device was engineered to reconnect the colon following a resection, utilizing the biological healing process to create a secure connection. The technology was supported by over 50 peer-reviewed publications and was used in more than 10,000 operations, holding both CE mark and FDA clearance.

In a move to broaden its product portfolio, novoGI entered into a licensing agreement in late 2012 with Endopix Ltd. This agreement granted novoGI exclusive worldwide rights to market a next-generation video enhancement software for GI diagnostic and surgical endoscopy. The technology was designed to improve the visualization of tissue details, such as blood vessels and surface patterns, potentially leading to higher detection rates of colorectal neoplasias. The company was led by CEO Gavriel Meron, who also founded the company. novoGI secured $18.5 million in a Series B funding round on August 11, 2009, from a consortium of investors including Forbion, Evergreen Venture Partners, and Cipio Partners.

Keywords: novoGI, NiTi Surgical Solutions, Gavriel Meron, gastrointestinal disease management, colorectal surgery, compression anastomosis, LARA device, nitinol medical device, surgical devices, GI endoscopy, Forbion, Evergreen Venture Partners, Cipio Partners, medical technology, surgical solutions, colon resection, anastomosis technology, GI surgery, Endopix, video enhancement software