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News Briefs
June 14, 2009 - June 20, 2009
Radiotherapy positioning start up Navotech raises $10m. in new round
Jun. 17 - Israeli radiotherapy positioning start up, Navotek Medical, has raised some $10 million in a financing round led by Giza Venture Capital. Existing
investors Agate Medical Investments, Wanaka Capital, Bridge Investments Fund, and chairman and co-founder Dr. Shimon Eckhouse, also took part in the
round. Navotek was founded four years ago and develops products to precisely locate and track tumors. This leads to greater efficiency in radiotherapy and
chemotherapy, and a reduction in damage to healthy tissue. The technology is based on a tracer implanted in the growth, which can be tracked during
treatment, even if the growth moves. It is used in prostate surgery and other soft tissue treatment. This is the third year in a row that the company has raised
financing. All together it has raised a sum of about $25 million. Navotek hopes to receive US Food and Drug Administration (FDA) approval in the second half
of this year.
Yissum signs collaboration agreement with Aurum Ventures
Jun. 17 - Yissum Research Development Company Ltd., the technology transfer company of the Hebrew University of Jerusalem, has signed an agreement
with Aurum, Ventures MKI, the technology investment arm of Morris Kahn, for the development of a nanotechnology controlled release drug delivery platform
that increases the bioavailability of orally administered lipophilic drugs. The technology was developed by Prof. Simon Benita at the university's School of
Pharmacy. Initially, Aurum will sponsor a pre-clinical feasibility study that will assess the safety and efficacy of the proprietary oral delivery of an existing drug
for the treatment of solid tumors that is currently delivered intravenously. Previous pre-clinical experiments on Tacrolimus, an effective drug which prevents
the rejection of transplanted organs but is poorly and variably absorbed with marked intestine and liver metabolism, resulted in 2.4 times higher
bioavailability. "We are pleased to partner with Aurum on this exciting technology," said Yehuda Yarmut, Deputy CEO of Yissum. "The ability to deliver
lipophilic drugs orally while bypassing specific potent barriers in the intestine and the liver carries tremendous potential."
Jerusalem mayor plans to raise NIS100 million for city's biomed industry
Jun. 16 - Jerusalem mayor Nir Barkat announced this week that he plans to raise NIS 100 million in investments for the biomed industry in his city. At a
reception organized by Yissum Technology Transfer Company of the Hebrew University of Jerusalem Barkat told the audience that over the next five years, the
Jerusalem Municipality and the Jerusalem Development Authority, intend to raise and invest about NIS 100 million to promote the health and life sciences
business cluster in the capital city. Barkat was speaking as part of the ILSI Biomed 2009 conference, which was held in Tel Aviv this week. At the event Barkat
said that he intends to award financial incentives in order to encourage biomed companies to come to Jerusalem. He also said that he wants to turn the city,
which already boasts some 110 biomed companies employing over 3,250 people, into a Special Economic Zone, with tax benefits for high-tech and biotech
companies.
Israel's Answers Corp. raised $7 million from Redpoint Ventures
Jun. 16 - Israeli online reference company Answers Corporation, which runs the websites Answers.com and WikiAnswers.com, has raised $7 million from US
venture capital firm Redpoint Ventures. Redpoint, which first invested $6 million in Answers a year ago with an option to invest a further $7m. a year later, is
now the largest shareholder in the company. As part of the investment, Redpoint's Tom Dyal, previously an Answers Corporation board observer, joined the
company's board of directors as a full member, and becomes Redpoint's second representative on the board.
Jewish and Palestinian children take part in soccer tournament
Jun. 15 - Two hundred Israeli and Palestinian children will take part in a joint football tournament today organized by HaPoel Tel Aviv's Education and Social
Project. Players from HaPoel Tel Aviv, will take part in the all-day event, at Kibbutz Shfayim. The tournament is designed for children from first to eighth
grade. For many of them this will be their first opportunity to meet children from the other side. HaPoel?s Education and Social Project has been running for
the last 12 years, and over 25,000 children have taken part in its activities. Over the last year, eight groups have been formed in villages near Jenin and
Mount Hebron in the Palestinian Authority, with over 400 children taking part. The children, who are taught be Palestinian coaches and educators, meet twice
a week, once to play football, and the other time for educational activities.
Reglera opens new office in Israel
Jun. 15 - Reglera LLC, one of the world's largest regulatory compliance and quality assurance consulting and outsourcing companies for medical device and
tissue bank organizations, is to open a new office in Israel. Israel is one of Reglera's fastest growing markets, and the company anticipates that the new office
will enhance its work in the country. "This is perfect timing to expand our offerings to the Israeli market," said Clay Anselmo, Reglera CEO and president. "We
see Israel as a great opportunity to further leverage our growth. The Israeli medical device market is the largest medical device market in the Middle East,
with an overall estimated market size of $885 million in 2008. Its medical device market is also the largest sector in the growing Israeli life science industry."
HU professor wins Kaye Award for his research into cancer
Jun. 14 - An Israeli professor, Prof. Avraham Hochberg, of the life sciences department of the Hebrew University of Jerusalem, has won first prize among
faculty members for this year's Kaye Innovations Awards. In his research, Hochberg successfully isolated the H19 gene in humans and determined that it is
significantly expressed in over 33 different forms of cancer, including superficial bladder carcinoma and pancreatic, ovarian and metastatic liver cancer, while
laying dormant and non-expressed in non-cancerous cells. He also demonstrated that the H19 gene plays a significant role in the tumor development process,
by enabling tumor cells to survive under stress conditions. Hochberg's research was patented by Hebrew University's commercial arm, Yissum Research
Development Company, and in 2005 Yissum established BioCancell. The company is now traded o the Tel Aviv stock exchange, and its leading product, BC-
819, has demonstrated efficacy in clinical trials (now in an advanced stage) in Israel and the US for the treatment of human bladder, pancreatic and ovarian
cancers.
Neurim reports positive results in phase III trials for insomnia drug
Jun. 14 - Israeli company Neurim Pharmaceuticals has reported positive results in its Phase III study of insomnia drug Circadin. The study of 790 insomnia
patients showed long-term efficacy and safety in elderly patients. The company said that the drug was found to improve sleep quality and next day alertness.
Minor side effects noted in the study are not expected to hold back registration with the US Food and Drug Administration (FDA). Neurim was founded by Prof.
Nava Zisapel, wife of entrepreneur Yehuda Zisapel ? chairman of RAD. It is based on her research at Tel Aviv University. Circadin is already marketed in
Europe by a Danish company and has been included in the drug baskets of several European countries. The company is now in the process of obtaining
approval from the FDA for sale in the US.
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