Health Innovation in the Shadow of Trauma — Israel’s Remarkable Resilience
Amid adversity, it is the health breakthroughs that touch people’s lives worldwide, reminding us of our shared humanity
“The paradox of trauma is that it has both the power to destroy and the power to transform and resurrect”
— Peter A Levine, Ph.D., Psychotherapist and creator of somatic experiencing
Trauma is what happens when the world you know comes crashing down. This is what Israelis experienced following the October 7th attacks. While time heals some wounds, many Israelis will continue to navigate the pain and aftermath for months and years to come.
The difficulties of war have permeated all sectors of Israeli society. The life science industry is no exception. Emotions are high with increased pressure on the health sector, workers called to military duty, and spouses, families, and co-workers juggle new realities and responsibilities. Couple this with the strain on the local economy and capital funding challenges of the past year, and the situation becomes ever more daunting.
During the past five months, I have had some of my career’s most challenging business conversations. I have heard variations of all of the following situations: A client’s financial controller was killed in her home alongside her husband protecting their 10-month-old twins; Another shared that a software coder, his family, and community have been evacuated from their home and are living in a hotel; the head of product has been called to duty — we need to shift their responsibilities; the CEO has three children serving in the military; the head of customer relations’ spouse is serving and has young children to care for; the head of marketing was injured, but we hope he will be back in a few weeks — and the roster of woe goes on and on. You get the idea.
They say that in Israel, when it comes to social connections, there are only two degrees of separation — everyone has been deeply affected directly or indirectly.
Picking Up
What do you do when disaster strikes? Trauma can break us; in parallel, it also uncovers opportunities for resilience and growth.
Many health and tech innovators were forced to pause their entrepreneurial ventures — to absorb, mourn, and reflect. Then, many turned their energies outward — to do their best to get back to work, to continue creating, coding, testing and collaborating to bring new ideas and technologies to fruition.
The health community rallied around new approaches to expand access to mental health support in addition to new technologies and strategies for medical rehabilitation for both citizens and soldiers. Innovators pressed on, leveraging their unique expertise, skills and years of research to help solve actual health-sector challenges.
One example is American-Israeli clinical trial software startup PhaseV, which announced on October 24th that it raised $15M in funding. Raviv Pyrluk, CEO of the company, expressed it poignantly, “We debated a lot whether to go out with this (funding) announcement, but we decided that we will not let terror win. We founded PhaseV to change the world for the better and to help with one of the most significant challenges of drug development — the clinical trial phase. We believe that our solution will help bring new medications and treatments to patients who need them all over the world. We must fight the darkness, but we also must spread light. We choose to continue spreading light in the world. This is our strength.”
Another important example is GrayMatters Health, a Haifa-based company that develops self-neuromodulation therapies to improve mental health care outcomes. GMH is the first company to develop a treatment that uses an amygdala-based biomarker with an interactive computer simulation to help patients learn to control their PTSD symptoms. Within a month after the October 7 attacks in Israel, the GMH team took action, rapidly deploying its Prism for PTSD solution in three Israeli hospitals — Sheba Medical Center, Barzilai, and Maale Carmel.
In the face of the current challenges, now more than ever, unity and support permeate Israel’s health community as we reignite the sparks of innovation. This is because innovation transcends politics and conflicts. Even amid adversity, breakthroughs in health can make a difference in people’s lives worldwide, reminding us of our shared humanity.
Coming Together
Next month, local innovators and global companies will gather at the annual MiXiii Health Tech Conference in Jerusalem (delayed from its original November date) to discuss Israel’s past, present, and future contributions to global health. This reminds us of our collective vision for advancing healthcare innovation, unwavering focus, and enduring resilience.
“Despite the shockwaves of war impacting the entire Israeli startup ecosystem, companies in the life sciences sector have continued to shine,” said Yaacov Michlin, MiXiii Conference Chair and CEO of BioLight Life Sciences Ltd. “This year’s conference provides a unique opportunity to demonstrate the resilience of Israeli technology companies during this challenging time and to celebrate the global impact of health tech, biotech and food tech advances originating from Israel.”
Driving Innovation
Although small, Israel’s health industry remains a beacon of innovation, with approximately 1,800 life science companies contributing to the advancement of healthcare on a global scale. The ideas developed from this market go forth to change lives and systems so that care is more effective in delivery and operationally.
According to Israel Advanced Technology Industries (IATI) Research, these companies span four major sub-sectors: medical devices, the largest sector comprising around 36% of the market; digital health (30%); and biotechnology and pharmaceutical therapeutics.
Karin Mayer Rubinstein, CEO & President of IATI, shares, “Israel continues to lead the world in health tech and life science innovation, bringing advancements to health systems across the world and propelling the transformation to digital health. Despite recent challenges, we are encouraged to see the local industry continue to grow and further its impact on global populations.”
Here are three examples of Israeli health innovators positively impacting the world:
· MediWound has created a novel biotherapeutic to treat people who have been severely burned. The company’s topical product was immediately used to treat Israeli victims in the aftermath of the Hamas attacks. It was demonstrated to reduce surgeries and improve recovery times. This treatment has also been used in disaster situations worldwide and is even included in the US emergency stockpile.
· Ibex Medical Analytics is transforming cancer diagnosis with its AI-powered tools. The Ibex platform, Galen, can help diagnose cancer in prostate, breast, and gastric biopsies, improving diagnostic accuracy, lowering misdiagnosis rates, shortening turnaround times and improving patient identification for targeted oncology therapies. Pathology teams across Israel, the US, the UK, Asia, and Europe now use it.
· Sheba Medical Center, Israel’s largest hospital, is ranked among the world’s top centers of clinical excellence. Its ARC technology transfer arm is spearheading the development of a range of practical digital technologies and companies to transform global health. These include vital solutions for telehealth, rehabilitation, mental health, and AI solutions for oncology, cardiology, and more.
Looking Forward
Despite the many challenges Israeli health innovators face, the future remains bright.
Israel is ready to capitalize on bioconvergence — a fusion of talents and capabilities across science and industries — to drive innovation in health tech and beyond. This strategic approach leverages synergies between healthcare, defense, agriculture, and energy sectors to unlock new opportunities for growth and development. Bioconvergence is receiving significant attention from governmental bodies and local and global investors.
Other areas of focus are pioneering multiomics and data-fueled innovation and continued harnessing of big data, AI, and machine learning to enable better care and outcomes. Investment in pediatric health tech is also a top priority in Israel, with a shift towards preventive medicine in childhood, laying the foundation for a healthier future generation.
Even in the shadow of trauma, Israel’s gaze remains fixed on the potential of tomorrow. When we gather at the MiXiii Conference next month, remember that our strength lies in our unity, resilience to keep going no matter what, and unwavering commitment to positively impacting global health. Let us use this event to renew our focus, reinvigorate our efforts, and reaffirm our commitment to shaping a healthier, brighter future for all.
Ellie Hanson, Partner at FINN Partners, is a business communications professional working with Israel-based health tech and biotech innovators of all sizes, from early-stage startups to publicly traded companies. Raised in Atlanta, GA, Ellie has a Business Management and Marketing BA from Reichman University and completed the Healthcare Technological Innovation Executive Leadership Program at Tel Aviv University. FINN is the only global communications agency with an office in Israel dedicated to supporting the country’s thriving innovation ecosystem in this market to the United States and Europe.
