Israeli startup company, Syqe Medical, have raised $50 million. Syqe Medical developed a medical cannabis “smart” inhaler that administers extremely precise doses.
This new smart inhaler from Syqe Medical, simply called the Syqe Inhaler, will be marketed in hospitals for patients to accurately dose themselves with selective, 100 microgram dosing precision. Doses will also be adjustable remotely by attending physicians. It utilizes whole plant extract in its cartridge with real-time thermal & flow controls, lung interfacing, and wireless connectivity.
As soon as the patient inhales, the cartridge is closed by an electrical circuit which then triggers a heating element that operates with a constant, fixed temperature. The inhaler also has a mouthpiece that measures the dose based on the force of inhalation. For example, it would account for the differences in breaths between a young or elderly patient with a lung disease as opposed to a younger patient with anxiety who is breathing heavily. Regardless of how weak or strong the inhalation is, the same dose is delivered every single time.
So far, the company has raised $50 million for this project, which is their largest finance sourcing by a long shot. The fundraising round was led by Shavit Capital, a company that normally invests in businesses listed on the foreign stock exchange. Other participants include OurCrowd, a pharmaceutical industry investor who has previously worked with Syqe, and the PRM Holdings fund, an extension of a company that invests in various plant-based medical products.
About The Company
Syqe Medical was founded in 2011 by Perry Davidson, who was previously the CEO and co-founder of Tikun Olam, Israel’s first and largest medical cannabis producer. Davidson has over a decade’s experience in controlled substance regulation, state implementation, and medical technology.
Syqe aims to create a market where cannabis and other plant products and botanicals are used in place of mainstream pharmaceuticals. They have a diverse team of electronic engineers, mechanical engineers, industrial designers, chemists, biologists, physicians, and, pharmacologists all working together to streamline the development of natural medications using modern-day testing and methodology.
Why The Smart Inhaler is Important
According to Davidson, “In the medical plant sector, there are now capsules, oils, and creams, but there is no option for inhaling precise dosages. On the other hand, in the pharma industry, dosages changing in real-time with real adjustment of the treatment to the patient cannot be administered by inhalation. Furthermore, the response rate to treatment with pharmaceutical inhalers is less than 50%.” He believes there is a definitive need for a smart inhaler that works with both plant products and conventional drugs.
Overall, Syqe Medical seeks to resolve the issue of reproducibility which is rampant in the medical cannabis industry. Reproducibility is the ability to consistently measure a product or component with exact precision. When dealing with medications, this is an extremely important factor to ensure the patient is getting the exact dose that would effectively treat their ailment while also accounting for personal differences in body type and chemistry.
This is an innovative new product that’s expected to become available relatively soon in Israeli hospitals and hopefully, one day, in the United States and Europe as well.