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IATI - Israel Advanced Technology Industries
IATI - Israel Advanced Technology Industries
IATI News & Events Daily Industry News BioSight Closes $13M in Venture Capital Funding

BioSight Closes $13M in Venture Capital Funding

May. 17, 2016

BioSight Ltd, a Karmiel, Israel-based pharmaceutical development company, closed $13m in funding.

The round, made in two steps, the first immediate and the second expected in the upcoming year, upon completion of a milestone by the company, was led by Arkin Holdings and Primera Capital, which will invest $5m each, with participation from existing backers including including Michael Ilan Management & Investments, which will invest additional $3m.

The company will use the funds to conduct a multi-center Phase IIb clinical trial of its lead product, Astarabine, an innovative compound of the chemotherapy drug cytarabine (Ara-C) and the amino acid asparagine for the treatment of Acute Myeloid Leukemia (AML).

Led by Stela Gengrinovitch, PhD, Co-Founder, Chief Scientist Officer, and Ruth Ben Yakar, PhD, CEO, BioSight focuses on the development of innovative chemotherapy pro-drugs with reduced toxicity.

For the full news item on Finsmes click here.

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