Capital Point has completed raising capital for Neuroderm, which develops a patch for dermal insertion of drugs for diseases of the central nervous system, and Biosp, which develops a unique method for the separation and enrichment of rare cell populations for various applications, including non-invasive prenatal tests
Neuroderm completed its first external capital raising of 2.5 million dollars with the participation of Robert Taub, the founder of Omrix
The company is developing a patch for skin insertion of drugs to treat diseases of the central nervous system * The first product is intended for the treatment of Parkinson's patients
The Neuroderm company, operating from the Capital Point Group, announced at the beginning of the week that it had completed its first external capital raising of 2.5 million dollars. Neuroderm develops transdermal drugs for diseases of the central nervous system. Robert Taub, founder and CEO of the biopharmaceutical company Omrix (NASDAQ:OMRI) participated in the recruitment and will join Neuroderm's board of directors, as well as Uwe Wacher, CEO of Washer & Co. Existing investors of Neuroderm include Hamma Ofakim from Capital Point Group and Dr. Shmuel Kabili. Neuroderm was established in early 2004 in collaboration with Hamma Ofakim and develops unique formulations for injecting drugs through the skin to treat various diseases of the central nervous system.
The company's first and leading product, ND601, is the first patch in the world for the continuous introduction of the drug Levodopa through the skin, for the treatment of Parkinson's patients. Levodopa, the most common drug in the world for the treatment of Parkinson's disease, naturally breaks down quickly in the body. Taking it orally does not allow maintaining a constant level in the blood and considerably worsens the condition of the patients. Neuroderm's 0601ND development is supported by the Michael G. Fox Research Foundation for Parkinson's Disease Research.
The number of Parkinson's patients in the world is estimated at 4-6 million patients, of which, according to the American Parkinson's Association, about 1.5 million are in the USA. About 70%-80% of Parkinson's patients are treated with Levodopa.
Robert Taub, who joined Neuroderm's board of directors, said "I was impressed by Neuroderm's business potential. The innovative approach, which faces one of the most difficult challenges in the treatment of Parkinson's disease - the delayed release of Levodopa - gives hope to millions of Parkinson's patients worldwide. The Neuroderm team has successfully developed drugs in the past and I am happy to join and support them."
Dr. Oded Lieberman, chairman of Neuroderm, added: "The development of Neuroderm is designed to improve many of the motor function problems that limit the quality of life of Parkinson's patients so much. I have no doubt that the backing of experienced professionals, who have behind them a series of proven successes in building international and profitable biopharmaceutical companies that have developed successful products, will help Neuroderm reach the commercial stage." Lieberman added that: "I note with satisfaction the expression of confidence in Neuroderm and its development plan on the part of the new investors and thank you for the ongoing support to us so far from our existing investors." .
The Biosup startup has completed a fundraising of approximately NIS 3.2 million at a value of approximately NIS 16 million after the moneyAppointed Avi Kuriat, founder of the American Applied Imaging company, as active chairman
Biosp, which operates in the MTG Hi-Tech Ventures incubator of the Capital Point Group, develops a unique method for the separation and enrichment of rare cell populations for various applications, including non-invasive prenatal tests
The Capital Point Group (TA: Capital) announces today (Wed), the completion of a fundraising of approximately 3.2 million shekels at a value of approximately 16 million shekels, after the money, for the start-up biosep. Biosp, develops a unique method for separating and enriching cells from different sources. The group also announces the joining of Avi Koriat to the position of active chairman of Biosp. Koriat is the founder and former director of Applied Imaging, a world leader in the field of chromosome analysis and software supply for laboratories.
The current fundraising, in which the existing investors participated - the Capital Point group and the MTG incubator that owns it, the Innovatec company and another investor, was completed about a year after the start of operations at a value of about NIS 16 million after money. The money is intended to speed up the development and commercialization process.
In the first phase, Biosep focuses on two applications: separating granulocyte blood cells of the fetus from maternal blood at weeks 8-14 of pregnancy and enriching stem cells for the purposes of treating cancer patients. Today, it is customary to perform a series of tests to diagnose genetic defects in the fetus; Some are inaccurate (fetal protein) and some are dangerous and are conducted in late stages of pregnancy (amniocentesis). With the completion of the development of Biosp, it will be possible to test for malformations in the fetus as early as the eighth week of pregnancy through a simple blood test from the mother without risk and with great accuracy.
"The first two applications are intended for large and growing markets in the amount of more than a billion dollars", stated the company's chairman, Avi Koriat. "The prenatal testing market is constantly looking for non-invasive solutions that can provide a quick answer to identify genetic problems in the fetus and the application of Biosp meets this need." Koriat added "the market for the treatment of cancer patients through stem cell transplantation is developing and Biosep intends to be among the leading companies in equipment for the production of stem cells in large quantities."
According to Dr. Oscar Ambon, director of the Ziv Medical Center in Safed, "the unique development of Biosp, which began at the Ziv Medical Center in Safed and continues in the MTG Hi-Tech Ventures incubator, will enable safe prenatal diagnosis and enable efficient and effective treatment of cancer patients using stem cells , in a way that does not lose the quality and cleanliness of the cells for transplantation, as is the case with other methods."
The start-up Biosp was established in the second half of 2006 as part of the collaboration maintained by the research fund of the Ziv Medical Center in Safed with the MTG Hi-Tech incubator and Chars in Katzrin, a subsidiary of Capital Point. The leaders of the development in the company are the entrepreneurs, Dr. Ofer Klein, director of the research and development division of the Ziv Medical Center in Safed, who serves as scientific director, and Aharon Lemish, an engineer with international experience in building medical device systems who serves as Biosp's CTO. Hanoch Markshid serves as CEO.
In the second half of 2006, the Capital Point Group invested more than NIS 2.4 million together with the Innovatec company in Biosp. Owners of shares in the company: Invotech (about 52.5%), Capital Point Group (about 37.5%) and other investors (about 10%).
About Capital Point GroupThe Capital Point Group, one of the leaders in Israel in investing in seed-stage companies with unique technologies, mainly in the fields of life sciences and medical devices, completed its IPO process on the Tel Aviv Stock Exchange in June 2006. The group, one of the pioneers of the privatization process of the technology incubators in Israel, was established in 2000, and owns two peripheral privatized technology incubators, Ofakim High Tech Ventures Ltd. (100%) and Mitg High Tech Ventures Ltd. (Katsrin) (80%). Also, the company has holdings in approximately 27 companies that address growing target markets. Capital Point is among the units whose portfolio company was sold for approximately NIS 20 million (in cash and in exchange of shares) while under the incubator framework.
