Intradermal drug delivery co NanoPass raises $6.5m

The company will use the proceeds from the financing round to complete clinical development and launch its product line.

NanoPass Technologies Ltd., a biotech start-up, announced today that it closed its first financing round, raising $6.5 million from Ofer Hi Tech Ltd., WFD Ventures LLC, and D-Partners, the private equity fund managed by Aharon and Shlomo Dovrat.

NanoPass has developed a platform for intradermal drug delivery, based on patent-pending micro-pyramid devices. The company will use the proceeds from the financing round to complete clinical development and launch its product line. NanoPass was founded in 2000 by Dr. Shuki Yeshurin under the auspices Naiot Venture Accelerator. The company has raised $1.6 million to date from Ofer High Tech, which has supported NanoPass since it was founded.

Published by Globes [online], Israel business news - www.globes.co.il - on February 14, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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