Check Cap

Check-Cap Ltd. is a clinical-stage medical diagnostics company that was incorporated in Israel in 2004 and founded in 2005 by Yoav Kimchy. The company operates in the medical equipment industry, focusing on the development of a patient-friendly, preparation-free screening test for colorectal cancer. Colorectal cancer is a leading cause of cancer-related deaths, yet a significant portion of the at-risk population avoids screening due to the invasive and uncomfortable nature of existing procedures like colonoscopies. Check-Cap aims to address this compliance issue by providing a less invasive alternative.

The company's core product is the C-Scan system, designed to detect precancerous polyps and other structural abnormalities in the colon. The system is comprised of three main components: the C-Scan Cap, an ingestible, vitamin-sized capsule that utilizes ultra-low-dose X-rays to scan the inner lining of the colon; the C-Scan Track, a set of disposable patches worn on the patient's back to record data from the capsule; and the C-Scan View software, which processes the data to create 2D and 3D maps of the colon for physician analysis. A key feature of the C-Scan system is that it eliminates the need for bowel preparation, fasting, and sedation, which are common requirements for conventional colonoscopies. The total X-ray exposure from the capsule is comparable to that of a single chest X-ray.

As a clinical-stage company, Check-Cap's business model is primarily focused on research and development, funded through various financing rounds and partnerships. The company has raised capital from institutional investors, including Shavit Capital, General Electric, and Pontifax. Recent corporate developments include a definitive merger agreement with Nobul AI Corp., a high-growth technology company, which was announced in March 2024. This business combination is intended to create a public company listed on the NASDAQ and TSX, with Nobul's executive team leading the new entity. The U.S. Food and Drug Administration (FDA) has granted an investigational device exemption for the C-Scan, allowing the company to conduct pivotal studies in the U.S. to evaluate its safety and performance.

Keywords: medical diagnostics, colorectal cancer screening, ingestible capsule, X-ray imaging, medical device, non-invasive, polyp detection, clinical-stage, preparation-free, C-Scan