The company wants to first finish clinical trials and sign a distribution agreement.
Meytav Technological Enterprises Innovation Center Ltd. portfolio company Endogun Ltd. has postponed its flotation on the Tel Aviv Stock Exchange (TASE) by at least a year. The company said that it would first finish clinical trials in Europe before seeking public financing.
Endogun added that it hoped to reach a strategic distribution and marketing agreement for its products with a leading US or European company. The company plans to complete the clinical trials needed to support these marketing efforts, and to begin marketing within a year. It will review plans for a TASE IPO at that time.
The company had planned to raise NIS 24 million at a company value of NIS 70 million, after money.
Published by Globes [online], Israel business news - www.globes.co.il - on February 22, 2007
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