Playermaker, a sports tech startup based in the State of Israel, was recently accepted into the Innovation Program of the International Federation of Football Association (FIFA). The tech company is well-known for being the creator of the shoe-mounted device that tracks the performance of the player wearing it while playing.
The innovation program was launched in the previous year by the football association, courtesy of its international governing authorities. It aims to ensure that innovative products are introduced into the game by working on the development and advancement of new devices that are up to its global standard.
The program has been devised in a way to enable various companies to give their products trial runs. They will also be able to adapt to the changing technologies as per the evolving rule requirements and needs.
Playermaker is a firm from Tel Aviv, which is currently headquartered in the United Kingdom (UK). It is responsible for having created a wearable and connectable sensor device that can be mounted on a boot. It is designed in a way to provide the wearer with an in-depth analysis of their performance when they wear it while playing.
As of now, the technology is being utilized by over 150 professional teams and soccer academies across the globe. This includes Liverpool, Arsenal, as well as Norwich. The technology provides the players and coaches with valuable insights into the various plays and assists them in making decisions. These decisions are influenced by the data collected on training priorities and player development.
In other news, a small molecule pharmaceutical company from Israel, which is still in its clinical stage, by the name or NeuroRx, made an announcement stating that it has successfully merged with a special purpose acquisition (SPAC) company. The company, having merged with Big Rock Partners Acquisition Corporation, will now begin trading as NRXP on the NASDAQ.
The Haifa-based company also revealed that this merger deal has been estimated to carry a worth of no less than $1.5 billion.
Founded in the year 2014, NeuroRx works to develop novel therapeutics that are used to treat disorders occurring in the central nervous system, as well as pulmonary diseases that are life-threatening. The two primary medicines that belong to the pharmaceutical company are NRX-101 and ZYESAMI (aviptadil). The former seeks to treat PTSD and suicidal bipolar depressions, whereas ZYESAMI is an application that is used to alleviate a respiratory failure caused by the coronavirus.
The Israeli company has revealed that it will be using the funds raised from the offering to work on the improvement and development of its two drugs. ZYESAMI is the only FDA investigational medicine, which has been designated to be studied at a fast track in critically ill patients of the coronavirus experiencing respiratory failure.
Up until now, NRx has devoted over $120 million as operating capital from private investment in public equity (PIPE), cash in hand, warrants implemented by global emerging markets (GEM), share subscription facility, to global yield funds.