TechNation: XFone’s New Cellular Service Provider We4G Offering NIS19 Monthly Package

Nike buys Israeli computer vision startup Invertex ■ Beijing’s ‘Silicon Valley’ to open Tel Aviv liaison office ■ Mylan to buy marketing rights to MS treatment from Israel’s Mapi Pharma

XFone CEO Yaakov Nadvorani
XFone CEO Yaakov NadvoraniCredit: Ofer Vaknin

XFone’s new cellular service provider We4G offering NIS19 monthly package

The Xfone communications firm’s new cellular service provider was launched on Tuesday with the announcement that We4G, as it is known, will be offering a two-year monthly cellular service package at 19 shekels ($5.40) per month for 10 GB of data and a 29 shekel package for 40 GB. The company said that subscribers could keep the second option for as long as they’re with the company, provided that they sign up for it within the next several weeks. The company is charging a 19.90 shekel fee for its SIM card, which will be delivered directly to the customer’s home. The company is offering data packages for users traveling abroad, including a 750 MB package accessible in 24 countries for 49 shekels and a 1 GB plan for 89 shekels. The plan also offers pricing for making phone calls from abroad. (Amitai Ziv)

Nike buys Israeli computer vision startup Invertex

Global sporting goods giant Nike announced Tuesday that it is acquiring a Tel Aviv-based computer vision startup called Invertex, which has developed digital 3-D technology to measure feet. The technology is expected to help Nike ensure that online purchasers of its shoes don’t get the wrong size. The purchase price was not disclosed. Invertex was founded in 2014 by David Bleicher, Tamir Lousky and Daniel Weisz, all of whom are in their 30s. It has raised $2 million from OurCrowd, the Jerusalem-based equity crowdfunding platform, as well as from the international fashion retailer Permoda. The company, which has a staff of 10, has carried out pilot programs with several companies, including Nike, but has not yet generated revenues. This is OurCrowd’s second exit in the space of a few days and its 20th overall. Earlier this week, Uber bought the bicycle-sharing startup Jump. (Eliran Rubin)

Beijing’s ‘Silicon Valley’ to open Tel Aviv liaison office

Beijing’s Zhongguancun Science Park, which has been billed as the Silicon Valley of the Chinese capital, will be opening a liaison office in Tel Aviv, it was announced Sunday. According to a news release, the announcement was made in Beijing at a meeting between Beijing Vice Mayor Yin Hejun and Tel Aviv Deputy Mayor Doron Sapir. The new representative office will reportedly be involved in mutual economic, high-tech and scientific issues. The statement, which noted that the Chinese capital and Tel Aviv have been twin cities for the past 20 years, added that the “Zhongguancun Israeli liaison office will serve as initial base for Chinese companies seeking to do business in Israel, and for Israeli companies seeking business opportunities in China.” Yin said the Tel Aviv liaison office is the Zhongguancun science park’s 11th overseas office. “We know how famous Tel Aviv is for its innovation, and openness to new ideas. We have a lot to learn from you,” he said, according to the news release. (TheMarker)

Mylan to buy marketing rights to MS treatment from Israel’s Mapi Pharma

Drugmaker Mylan is acquiring global marketing rights to an experimental multiple sclerosis treatment from Israel’s Mapi Pharma, the companies said on Tuesday. Both companies will partner on the development and commercialization of GA Depot, a long-acting injection used once a month, for the treatment of patients with relapsing-remitting multiple sclerosis. Mapi has tested the drug in a mid-stage study and is preparing for a key late-stage trial to support marketing applications to global health regulators, including the U.S. Food and Drug Administration. It is estimated that in the United States alone nearly 1 million people suffer from multiple sclerosis, a lifelong disease that affects the brain and spinal cord. Relapsing-remitting MS – marked by relapses that last at least 24 hours, followed by a remission – accounts for about 85% of initial diagnoses, the companies said. (Reuters)

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