Israel-Based Medical Data Startup MDClone Raises $10 Million.
MDClone develops a system for ensuring patient confidentiality by generating “synthetic data”—datasets combining real and fictitious patients, allowing researchers to conduct tests without compromising the patient’s identity
Israel-based medical data management startup MDClone Ltd. has completed a $10 million Series A investment round led by venture capital firm Lightspeed Management Company LLC, the company announced Monday. Investment firm OrbiMed Advisors LLC which led the company’s seed round in 2016, also participated. The company has raised $15 million in equity funding to date.
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Founded in 2015 and based in Be'er Sheva, a town in southern Israel, with additional offices in Chicago, MDClone develops a system for ensuring patient confidentiality during the analysis of medical data. MDClone’s system generates “synthetic data”—datasets combining real and fictitious patients, allowing researchers to conduct tests without exposing sensitive medical data and compromising personal details.
MDClone’s system also enables healthcare providers to extract and display data from different medical databases, allowing for more efficient collaborations.
MDClone CEO and Co-Founder Ziv Ofek previously founded patient information company dbMotion Ltd., acquired by Nasdaq-listed Allscripts Healthcare Solutions, Inc. for $235 million in 2013.
Founded in 2000 and headquartered in California, Lightspeed is an early stage venture capital company with additional offices in Tel Aviv, China and India. According to the company, it is currently managing $4 billion of committed capital.