The sixth annual MEDinISRAEL conference on digital healthcare and medical devices will be held virtually Monday and Tuesday.

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The conference, an initiative of the Israel Export Institute and the Economy and Industry Ministry with the support of the Health Ministry, the Innovation Authority, and the Foreign Ministry, is set to focus on innovations in the digital healthcare field.

Thirty companies will compete for the title of the most innovative firm in a competition hosted by the Sanara Ventures fund during the event.

Among those set to take part in the conference are representatives from Sheba Medical Center at Tel Hashomer, Tel Aviv Sourasky Medical Center, the Merage Foundation Israel, and Teva Pharmaceutical Industries.

There are around 1,800 companies in Israel's life science industry, around 40% of which are in the medical device field. Around a quarter of the firms are in the digital healthcare field, another 25% are in the biotechnological field, and the remaining 10% are pharmaceutical companies.

Israeli companies in the field raised some $2.5 billion in 230 deals in 2020, a 50% increase over 2019. At 55%, a majority of the funds raised were for companies in the field of medical equipment, according to data from the IVC Research Center.

In 2020, Israeli exports in the field of medicine totaled $7.7 billion, according to findings published by the Israel Export Institute.

Israel Export Institute Chairman Adiv Baruch said, "Over two inspiring days, we will examine up close notable achievements and potential breakthroughs, and we will research the most innovative health technologies coming out of Israel.

"We will continue to build the most professional infrastructure, which promotes global economic activity and leverages Israeli industry in international markets," he said.

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Israel's ZygoFix has completed $2 million fundraising round for its alternative solution to spinal fusion for sufferers of severe back pain, the company announced Tuesday.

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ZygoFix's zLOCK is a miniature screwless implant that provides spinal stability and fusion. ZygoFix describes zLOCK as the least invasive, simplest fusion option available and a replacement for the complex screw stabilization, currently considered the gold standard for such procedures.

The zLOCK implant includes flexible features that can be adjusted to the shapes of specific joints during insertion.

The first clinical use of ZygoFix's technology in Israel was performed by Dr. Lior Merom at the Rambam Health Care Campus. The surgery included laminotomy and facet stabilization using two zLOCK implants for the treatment of back pain (facet arthritis) and spinal nerve compression (foraminal stenosis). The surgery successful implanted the zLOCK in under 30 minutes.

"The simple and very low risk placement of the zLOCKs make it an attractive stabilization solution for suitable indications. We look forward to collecting more data as the study progresses," Merom said.

This case opens the Israeli clinical study site, following an ongoing study in Hungary that began in 2018 and has demonstrated meaningful and sustained reduction in pain and increase in quality of life for participants.

ZygoFix CEO Ofer Levy commented, "Our technology rethinks spinal stability. We leverage the natural anatomical structure of the spine and insert the zLOCK implant which locks the motion in the joint.

"We are very satisfied with this first case in Israel as zLOCK adds a new treatment option to the surgeon's toolbox. Its unique ability to perform internal facet fixation with a minimally invasive procedure enables us to treat pathologies in a simple manner, that were too complex and invasive to treat otherwise."

The funding round was led by Agriline (a trust of which Vincent Tchenguiz is a discretionary beneficiary), and Trendlines.  Additional private investors and the Israel Innovation Authority also provided funding. The investment will be used to conduct further clinical studies, enhance the system implant and tools, and for regulatory clearance.

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