“We plan to raise $37 million in private and public money in 2007 for our portfolio companies, Meytav Technological Enterprises Innovation Center Ltd. CEO Zvika Rubinstein told “Globes” yesterday. “Although an ambitious target, and it will not be terrible if we miss it, we believe that we can do it. We have a detailed plan that precisely sets out how much money we want to raise for each company.”
Rubinstein also listed the companies that are about to raise money. Graduate companies include Collplant Ltd., Endogun Medical Systems Ltd., Elutex Ltd. (TASE:ELTX), Helix Medical Systems Ltd., and UC Care Ltd.
New companies that plan to raise capital include Braintact Ltd., which is developing a treatment for neurodegenerative diseases; Biomagnesium Systems Ltd., which is developing a degradable implant for orthopedic procedures; Novotyr Therapeutics Ltd., which is developing a treatment for cancer and inflammation diseases; Revalve Ltd., which is developing cardiac valves; Minimal Invasive Mastoplexy Ltd. (MIM), which is developing a device for lifting and reshaping tissue for aesthetic or other reasons; and two companies developing treatments for obesity, at least one of which is expected to raise money this year.
Meytav’s fundraising plans for its portfolio companies are unrelated to planned capital raising plans by the incubator’s parent company Biomedix Incubator Ltd. (TASE:BMDX). Biomedix has talked about raising money on the US capital market within the next couple of years. Biomedix is a party in the investments in Meytav’s portfolio companies, and will contribute part of the planned $37 million in investment.
Published by Globes [online], Israel business news - www.globes.co.il - on February 19, 2007
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