Portfolio
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Bioness / N.E.S.S
Teuza's holdings: 8%
www.nessltd.com / www.bionessinc.com
A private U.S. company in which Teuza holds 8%.
Bioness has more than 100 employees and its sales in 2007 were about $10M
Bioness Holds 100% of Ness Neuromuscular Electrical Stimulation Systems (“N.E.S.S.”),
which is a private company located in Israel. NESS recently changed its name to
Bioness Neuromodulation Ltd. (“Bioness Israel”).
Ness has about 50 employees and its sales in 2007 were about $11M
Bioness is marketing Ness products in the USA and has an exclusive worldwide license
to market the bionic technology, which provides an electric stimulation in the muscle
to assist in the recovery of the function of a paralyzed limb.
Bioness also develops a unique product in the rehabilitation field- a “Stim Router”,
which is an implant sensor connected to the neurons, which is used as a receptor for
electric stimulating waves.
Alfred E.Mann, who controls Bioness, has committed to invest an additional $40 million
in equity of Bioness, based on $150 million valuation of the combined companies.
Investment bankers estimate that Bioness will make a revolution in the rehabilitation
field and will become very soon to be a company with a worth of several hundred million
of dollars.
Bioness Israel brings to the market a revolution in rehabilitation technology. It provides
technological solutions that respond to the needs of people suffering from paralysis due to
neurological disorders such as stroke, spinal cord and/or head injury, and in some other
neurological indications including cerebral palsy and multiple sclerosis. Experts expect that
the Company's products will become a standard of care in the rehabilitation field within
a few years.
The company uses the technology of surface functional electrical stimulation (FES) to develop
solutions for activating paralyzed muscles. The NESS systems are designed for home use and
provide the potential of enhanced function and therapeutically based improvement.
The company's first product, the HS200, is a non-invasive system for paralyzed hands.
The HS200 system received the CE mark & approved by the FDA for marketing in the U.S.A.
The HS200 personal system incorporates and integrates advanced upper limb rehabilitation
technologies in a single system for patients' independent use. Bioness Israel has applied this
successful rehabilitation concept in other body sites, to offer a full range of products for a
comprehensive treatment of the paralyzed body.
Bioness Israel has a subsidiary in The Netherlands and is selling its products very
successfully there.
Bioness Israel also finished two new R&D projects, Leg Device and Large HS200, at a total
budget of $6.3M. These projects were financed partly by Bioness and the Office of the
Chief Scientist of the Ministry of Industry and Trade of Israel.
The leg device, NESS L300, received the CE mark & approved by the FDA for marketing in the
U.S.A. The NESS L300 is intended to provide ankle dorsiflexion in individuals with drop foot
following an upper motor neuron injury or disease.
The leg device is makes a revolution in the rehabilitation field and enables paralyzed people
to walk.
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