GE Capital and GE Healthcare have invested in Check-Cap, developer of an ingestible imaging capsule that may help detect colorectal cancer.
Check-Cap’s ingestible and disposable imaging capsule will seek to image the colon in 3D. The capsule will require no bowel cleansing before ingestion and no hospital visit.
The investment is being made through the GE healthymagination Fund, an equity fund that makes investments in healthcare technology companies. Financial terms of the transaction were not disclosed.
The investment is aligned with GE Healthcare’s expanding focus on colon cancer management technologies, as well as GE’s healthymagination initiative, according to GE.
In addition to the financial investment and as part of a collaboration, Check-Cap and GE Healthcare have entered into a development and supply agreement where GE Healthcare–Israel will develop, design and produce miniature cadmium zinc telluride (CZT) diagnostic imaging sensors inside each Check-Cap capsule to enable clinicians to obtain 360-degree imaging as the capsule travels in the colon.
Check-Cap plans to introduce its ingestible imaging capsule in the E.U. in late 2013, subject to CE mark regulatory approval. The company also is in discussions with the FDA concerning appropriate clinical activities to support approval to market the product in the U.S.