Israel's life sciences millionairesJan. 16, 2013
20 years ago, the dream of every Israeli entrepreneur was to create the next big software house, following the trail blazed by Check Point, and to make a bundle (in the parlance of the day). Software gave way to the Internet, and the dream became to make the next big dot.com company, which in turn gave way to create the next killer app, like Waze Ltd.
The life sciences industry was never really part of these dreams, possibly because to make money in it, it was first necessary to invest a lot more money than was needed in software or Internet ventures, and maybe because the rewards, if any, came after decades rather than years, and perhaps because great minds, such as those of Nobel Prize laureates, were needed to develop the next great drug.
The development of pharmaceuticals and medical devices can be an exhausting career, especially in Israel where the industry is still quite new and many mistakes are made. Investors do not always reap rewards, and an investment in a clinical-stage drug can often be wiped out in an instant. Even after successful trials, hard times can force a company to hold repeated financing rounds at lower valuations, which hurt previous investors.
Nonetheless, Israel's life sciences industry is a great source of national pride, and just as important, a source for the creation of millionaires, although they are not as famous as their high-tech peers. That said, when a life sciences entrepreneur meets a patient whose life he saved or improved thanks to his discovery or invention, the emotion is just as important.
Against the backdrop of Israel's flourishing life sciences industry, “Globes” has reviewed the Israeli life sciences companies that are currently leading the industry, and drawn up a list of more than 20 millionaires in it who are trying to cure the diseases that afflict us. The list includes Compugen. Prolor, Pluristem, Medgenics, Aposense, and others.
For the full project click here.