This is the most that an Israeli biomed co has raised this year from VC and private investors.
Israeli start-up Chiasma, which has developed a new technology for oral delivery of macromolecules and other impermeable drugs into the bloodstream announced today the completion of a third fundraising round in which it raised $44 million. The round was led by US venture fund MPM Capital, a fund which specializes in life sciences and managed $2 billion dollars in assets, and which has already invested in the Israeli companies Omrix and Mindset Biopharmaceuticals (which has closed). MPM was joined by Arch Venture Partners, which manages over $1 billion in biomed assets, as well as existing investors, Ofer Hi Tech Ltd. and F2 Ventures. This is the largest amount of funds which an Israeli biomed company has raised this year from venture capital and private investors.
Chiasma was founded by CEO Guy Yachin with initial funding from Yissum Technology Transfer Company of the Hebrew University of Jerusalem and InnoMed Ventures.
The company has developed a new technology for oral delivery of macromolecules and other impermeable drugs (mostly proteins and peptides, i.e. biotechnological drugs) into the bloodstream, all of which currently require administration by injection.
Published by Globes [online], Israel business news - www.globes.co.il - on November 5, 2006
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