Israeli healthtech companies and researchers have developed many life-saving technologies, some of which are now used in hospitals around the world. One highly promising medical technology has just been approved by the United States Food and Drug Administration (FDA) after demonstrating its ability to eliminate tumors using new cancer-freezing technology.
The groundbreaking technology comes from a healthtech company called IceCure. The company was founded in 2006, and it’s currently headquartered in the coastal city of Caesarea, Israel.
IceCure’s cancer-freezing technology relies on an innovative process referred to as cryoablation therapy. The goal of cryoablation is to insert a hollow needle into the breast until the tumor is reached. Liquid nitrogen is then precisely applied directly into a tumor to kill the abnormal tissue by freezing it at a very low temperature of -170°C (-274 F).
“We are basically covering the tissue with an ice ball. No tissue can survive such a low temperature,” explained Tlalit Bussi Tel-Tzure, vice president of business development and global marketing at IceCure. “Once the tissue is dead, it will dissolve in the body in a natural process and be absorbed in the body in a couple of weeks.”
The technology has already proved to be extremely successful when it comes to destroying kidney tumors, demonstrating perfect efficiency. Its main advantage is the fact that it can be carried out either at a doctor’s office or an outpatient facility thanks to its minimally invasive nature. The entire procedure can take less than one hour from start to finish, and it doesn’t leave any lasting physical mark on the body.
“Our main vision is to become the gold standard in breast cancer treatment,” said Eyal Shamir, CEO of IceCure Medical. “Most of the cases where you have good early detection are small tumors, considered early stage, and the only treatment available today is surgery.”
IceCure isn’t the only company exploring the application of cryoablation for treating breast cancer. There’s also California-based Sanarus Technologies, which has recently completed a clinical trial in the United States.
Stripe Enters The Middle East With Its UAE Launch
Stripe will initially only be available to UAE businesses, allowing them to accept online payments, make payouts, mitigate fraud, and attract customers from around the world.
Stripe, a provider of online payment processing for internet business, has finally expanded to the Middle East with its official launch in the United Arab Emirates. The Irish-American company also opened an office in Dubai Internet City, allowing it to be closer to its new customer base.
At first, Stripe will only be available to UAE businesses, allowing them to accept online payments, make payouts, mitigate fraud, and attract customers from around the world.
“The UAE is a thriving hub for technology, supported by strong investor appetite, internet-savvy consumers, and an open, innovative ecosystem of business leaders and entrepreneurs,” said Matt Henderson, EMEA Business Lead at Stripe. “Our launch today also means we can now connect our global user base to the Gulf, enabling them to seamlessly expand their operations in the region.”
Stripe’s entry into the Middle East market comes just weeks after its latest round of funding, which has resulted in the company’s value jumping up to $95 billion and making it one of the most valuable fintech companies in the world.
The UAE is the perfect entry point for the online payment processing provider because the total value of digital payment transactions in the gulf country has doubled in the last two years alone, reaching $18.5 billion in 2020. If the UAE remains on the current growth trajectory, its e-commerce sector is expected to add nearly another $10 billion over the next two years.
Another factor that makes the UAE such an ideal expansion point is the fact that accepting online payments in the country has historically been incredibly challenging. Stripe provides a straightforward setup process and developer-friendly APIs, making it easy for companies of all sizes to improve their online presence.
Last year, Stripe launched in the Czech Republic, Hungary, Romania, Bulgaria, Cyprus, and Malta. The company also expanded into Africa via Nigeria technology startup Paystack. In total, Stripe currently processes hundreds of billions of dollars each year.