IPO Profile: Check Cap Ltd

Company Details

Mount Carmel, Israel

97-24-821-1258

www.check-cap.com

Description: Check-Cap Ltd. is a clinical-stage medical diagnostics company. The company is engaged in the development of an ingestible imaging capsule that utilizes low-dose X-rays for the screening for colorectal cancer (CRC). The company’s imaging capsule is designed to ingest without any cleansing of the colon and to travel through the gastrointestinal tract naturally. The company’s imaging capsule consists of an X-ray source and several X-ray detectors. The company’s imaging capsule is designed to create a reconstructed three-dimensional (3D) image of the colon and to enable detection of clinically polyps. The company has also designed a Capsule Positioning System (CPS) for a complete view of capsule positioning and motility, which is mounted on the patient’s back throughout the entire procedure. The CPS is designed to provide the physician with localization data aligned with a reconstructed image.

Competition: Given Imaging Ltd, Olympus Corp.

IPO Details

Exchange and Ticker: Nasdaq: CHEKU

Filing Range: 2M shares @ $6.00 to $8.00

Date of IPO: 2/19/15

Offering Price: $6.00

Offering Size: $12M

Shares Outstanding: 7.96M

Underwriters: Chardan Capital Markets LLC, Maxim Group LLC

Co-manager: Feltl & Co

Company Counsel: Loeb & Loeb

Manager Counsel: Reed Smith LLP

Auditor: Brightman Almagor & Co

Market Capitalization on 2/27/15: $ 48.43M

Close price on 2/27/15: $ 6.08

Investment Details

Venture Backers:

• Pontifax Ltd
• GE Capital
• Docor International BV
• CounterPoint Capital Partners LLC
• Undisclosed investor

Financing Rounds:

• 3/26/08 $5M
• 10/21/14 n/a

Source: Data provided by Thomson Reuters.