Guangzhou Sino-Israel Biotech Investment Fund (GIBF), a life-sciences firm backed by the Guangzhou municipal government, invested $7 million in Nazareth-based medical device company Alpha Omega Ltd., the latter announced last week.
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Alpha Omega’s medical equipment helps neurosurgeons locate the optimal target for the implantation of Deep Brain Stimulation (DBS) electrodes. DBS is used to treat movement disorders associated with Parkinson’s disease (PD), essential tremor, and other neurological conditions, according to the Johns Hopkins medical school.
The company’s devices are used in more than 100 hospitals and 500 labs around the world, according to company statements.
Founded and run by husband and wife team Imad and Reem Younis in 1993, the company remains headquartered in Nazareth and employs 129 people, according to Pitchbook data.
Established in 2016, GIBF focuses on life science investment with an initial size of 600 million Chinese Yuan ($87 million). The fund currently has offices in both Guangzhou, China and Tel Aviv, Israel.