X-rays Capsule Developer Check-CAP Filed a NASDAQ Registration Statement

29 December, 2014

Check-Cap develops an endoscopy capsule with a colon imaging system for colorectal cancer

Check-Cap develops an endoscopy capsule with a colon imaging system for colorectal cancer


Check-Cap Ltd., a clinical stage medical diagnostics company engaged in the development of a preparation-free ingestible imaging capsule that utilizes low-dose X-rays for the screening for colorectal cancer, announced that it has filed a Registration Statement on Form F-1 with the U.S. Securities and Exchange Commission FOR ipo in NASDAQ.

The company proposed $15 million initial public offering of its ordinary shares. The timing of the Offering, number of shares to be offered and the price range for the proposed offering have not yet been determined. Concurrent with the completion of the Offering, Check-Cap plans to complete an additional financing of $12 million in a private placement of restricted securities.

Proceeds from the Offering and the simultaneous private placement of restricted securities will be utilized to support the continued development of the Check-Cap imaging system. Check-Cap is a clinical stage medical diagnostics company from Isfiya, Israel. It focused on the development of gastrointestinal imaging devices.

Check-Cap system overview
Check-Cap system overview

The company’s lead product is an endoscopy capsule with a colon imaging system for colorectal cancer and clinically-significant pre-cancerous polyps that utilizes proprietary, ultra-low-energy X-ray-based measurement technology to safely generate high-resolution, 3-dimensional imagery of the colon without cleansing or other aggressive bowel preparation.

According to the American Cancer Society, or the ACS, CRC (colorectal cancer) is the third most common cancer diagnosed and the second leading cause of death from cancer in the United States.  The ACS estimates that in 2014, in the United States approximately 136,830 people are expected to be diagnosed with CRC and approximately 50,310 people will die from CRC.

Check-Cap's accurate 3D colon image
Check-Cap’s accurate 3D colon image

CRC screening can reduce death rates from CRC by detecting polyps at an earlier, more treatable stage. CRC is one of the few cancers that can be prevented through screening because pre-cancerous polyps, from which colon cancers often develop, can be identified and removed.

Check-Cap imaging capsule consists of an X-ray source and several X-ray detectors. The X-ray source is contained in a rotating radiation shield, enabling the generation of 360-degree angular scans. The collection of successive angular scans enables the virtual reconstruction of a portion of the colon.  During movement of our imaging capsule longitudinally through the colon, successive images of portions of the colon are collected to enable the three-dimensional reconstruction of the colon.

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