BioProtect has developed a balloon that separates tissues to protect healthy tissues from radiation during cancer treatments.
Xenia Capital Venture Ltd. (TASE:XENA) has announced that portfolio company BioProtect Ltd. has raised $1 million at a company value of $4.5 million, after money. Most of the investors were private individuals, including top doctors and leaders in the life sciences. Prof. Shlomo Mashiach, the head of IVF Assuta Israel at Assuta Medical Center, who will join BioProtect’s board, and Adv. Esther Barak-Landes. Xenia will own 41% of the company after the round, or 34.47% fully diluted.
Bioprotect has developed a balloon that separates tissues to protect healthy tissues from radiation during cancer treatments. The first application of the balloon is to separate healthy organs from prostates during radiotherapy for benign and malignant tumors. The company recently completed animal trials of its product, and plans to shortly begin human clinical trials.
Published by Globes [online], Israel business news - www.globes.co.il - on February 18, 2007
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