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Trendlines invests in 2 medical companies, receives extension on incubator franchise
THE Trendlines Group's medical incubator subsidiary has taken substantial but minority stakes in two early-stage medical companies and received an eight-year extension from the Israeli government for its incubator franchise.
Trendlines Medical - Misgav has taken a 48.8 per cent stake in Tandem Technologies, a business aimed at improving the process of removing and retrieving colon polyps, for an undisclosed sum, according to an announcement on Thursday by Trendlines, a technology investor in the medical and agricultural fields.
The company also took a 49.8 per cent stake in Zeev Implants, a company that is developing modular dental implant solutions, for an undisclosed sum.
Trendlines also announced separately that its existing incubator franchise from the Office of the Chief Scientist of the Israel Ministry of Economy has been extended to Dec 31, 2023. The franchise status provides Trendlines Medical with a grant of 4.94 million Israeli new shekels over the life of the franchise, but will require Trendlines Medical to spend at least 10.08 million new shekels on incubator operations over that time.