Tech Nation

Maker of Marlboros buys e-cigarette startup

Green Smoke, a U.S. developer and manufacturer of electronic cigarettes with a research and development center in Israel, will be acquired by Altria Group, the tobacco company whose portfolio include Marlboro cigarettes, the two companies said on Monday. Altria’s Nu Mark e-cigarette unit will pay about $110 million in cash and up to $20 million in incentive payments for Green Smoke. “Adding Green Smoke’s significant e-vapor expertise and experience, along with its supply chain, product lines and customer service, will complement Nu Mark’s capabilities and enhance its competitive position,” Altria chairman and CEO Marty Barrington said. (TheMarker Staff)

Micromedic: Good interim results in China trial

Micromedic, which develops cancer diagnostic products, said pilot programs at two Beijing hospitals for its CellDetect cervical cancer diagnosis kit had so far yielded positive results. Trials at Union Medical College and another, unnamed facility showed that diagnoses had identified cancerous cells in 95% of the cases. The final results of the trial, which is scheduled for completion at the end of March, will help Micromedic market CellDetect in China. In the meantime, the company reported that its Chinese distributor had won an order for 100,000 kits. Micromedic closed up 1.4% at 1.07 shekels (30 cents) on the Tel Aviv Stock Exchange. (TheMarker Staff)

Mysizeid gets TASE listing via shell company

Mysizeid, a startup that has developed a mobile application for people to get their exact measurements and make it easier to buy clothes online, is becoming a Tel Aviv Stock Exchange-listed company. Rather than issuing shares, the startup acquired Knowledgetree Ventures as a vehicle for raising the 6 million shekels ($1.7 million) to continue developing its app and to recruit online retailers. The company, which is now 32%-owned by Ron Luzon, its CEO, spent some 1.5 million shekels acquiring control of Knowledgetree. Mysizeid’s app collects measurements through a smartphone’s built-in sensors. It is more accurate than competing technologies using photographs, the company says. (Dror Reich) 

A man smoking a cigarette (Illustrative).