9/22/20 - Leaderboard - Pharma

ChemImage, Compentex Awarded BIRD Foundation Grant

Press Release from ChemImage

Foundation promoting US, Israeli collaborations funds project to advance medication identification and dispensing system

PITTSBURGH, July 12, 2022 /PRNewswire/ -- ChemImage, a leader in molecular chemical imaging technology, is pleased to announce that the Binational Industrial Research & Development (BIRD) Foundation is investing $950,000 to develop NurseSpace, an innovative medication identification and dispensing system.

Advanced imaging and machine learning company taps Medical Device Executive to lead expansion in medical applications for patented technology. (PRNewsfoto/ChemImage Corporation)

The brainchild of Israeli startup Compentex LTD, NurseSpace's early development and proof of concept successes are a result of a fruitful collaboration with ChemImage. By enabling multispectral analysis and artificial intelligence algorithms, NurseSpace was developed to prevent all relevant medication errors and ensure proper delivery of medication to each patient. By safely controlling, dosing, and dispensing prescribed medications, healthcare institutions can improve upon existing error-prevention solutions that can be counted in patient lives.

"We are excited to work with Compentex and help them to improve safety for patients around the world," said John Belechak, ChemImage Chief Revenue Officer. "We are looking forward to an engaging and successful relationship."

"The grant will allow us to boost the development of NurseSpace for market distribution in the US and Israel," said Dr. Vadim Zelikman, the CEO of Compentex. "We are excited to move forward with our R&D efforts and continue the hard work necessary to bring NurseSpace to market."

The collaboration between ChemImage and Compentex was made possible by 412x972 Pittsburgh Israel Innovation (www.412x972.com). ChemImage has worked with 412x972 since 2020. "When Vadim, the CEO of Compentex, presented me with his product design, I knew that ChemImage could help boost this product performance" said Gal Inbar, Executive Director of 412x972. "It took a lot of time, effort, and focus to secure the BIRD funding, but it was surely worth the effort."

About ChemImage Corporation

ChemImage is committed to empowering the world with real-time autonomous smart chemical imaging technology to enhance users' situational awareness and decision making. The company's proprietary, state-of-the-art chemical imaging sensors, algorithms, and computer vision analysis software empower medical device, pharmaceutical and life science companies, as well as security and law enforcement professionals, to take on challenging health and safety needs with the Awareness of Things® (AoT®). With performance leading chemical imaging technology and advanced software and algorithms, ChemImage strives to bring a new level of situational awareness to people in their everyday lives. www.chemimage.com.

About Compentex

Compentex LTD is an early-stage Israeli startup that is developing an innovative platform to prevent medication errors using novel multispectral identification systems and algorithms. To date, the startup has successfully advanced a Proof-of-Concept system that includes both hardware and software components.

About 412x972

412x972 Pittsburgh Israel Innovation is creating profitable economic bridges between Pittsburgh and Israel. 412×972 leverages synergies between the Pittsburgh and Israel business ecosystems and identifies specific opportunities through scouting, business development, and other programs to create benefits to both communities.

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SOURCE ChemImage Corporation

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