PillTracker Ltd. Joins PMatX Innovation Lab, to Accelerate Development With Support From Merck, Flex and Israel Innovation Authority
TEL AVIV, Israel, Dec. 4, 2019 /PRNewswire/ -- PillTracker, an Israeli medication adherence start-up, announced today that it has joined the PMatX Innovation lab in Yavne, Israel, to accelerate the development of its innovative medication adherence solution. PMatX, operated by M Ventures, is a joint Innovation Lab programme supported by Merck, FLEX and the Israel Innovation Authority. PMatX serves as an innovation lab for Israeli start-ups developing next-generation electronics innovations and PillTracker is the 3rd company to join since PMatX's launch in February 2019. The resources provided through PMatX will catalyze PillTracker's R&D efforts and accelerate the company's path to launch a next-generation clinical trial medication compliance platform in Q2 2020.
PillTracker addresses the $1 Trillion problem of medication non-compliance with cellular-enabled, 'smart' packaging and cloud-connectivity. The technology will initially target medication adherence in clinical trials and will expand to support patient compliance for post-market, specialty pharmaceuticals. In user-acceptance testing, the technology was welcomed by patients and rated as excellent by caregivers.
As the PMatX programme contributor, Merck, Flex and the Israel Innovation Authority are providing the company with funding and strategic mentorship support. "We eagerly anticipate the opportunity to improve outcomes for patients through the support we receive from the PMatX programme," said Zachary Javitt, CEO and Co-Founder of PillTracker.
Noga Yerushalmi, head of the PMatX Innovation Lab, said, "We are delighted to add PillTracker to our PMatX portfolio. PillTracker develops a unique device that combines sensor technology and data generation that can benefit patients with the medication regimen. Specifically we see great value to pharmaceutical companies performing clinical trials with high value medication and high need for compliance."
PMatX is an open innovation lab with the aim to lead the development of the Israeli ecosystem for next-generation electronics by integrating innovative materials with novel manufacturing methods. PMatX provides early-stage start-ups working in the field of next-generation electronics with funding, mentoring and access to state-of-the-art labs within an open collaborative environment. In addition to working office space, our facilities include laboratories dedicated to chemical synthesis, biology, printing and electronics. Technical and business mentoring is provided by Flex, M-Ventures, and other relevant partners. Funding for participating start-ups is provided jointly by the IIA and M-Ventures.
Learn more at www.pilltracker.com.
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SOURCE PillTracker Ltd.