Cancer drug developer BioSight raises $1.5m

Two Israeli scientists made the investment.

Sources inform ''Globes'' that drug development start-up BioSight Ltd. has raised $1.5 million from two Israeli scientists. A further $2 million will be invested if the company reaches certain milestones. The company has raised $7 million, including the current round, since it was founded in 1999.

BioSight is developing a focused drug to treat cancer. Like a number of other companies, BioSight locates target proteins that appear in tumor cells, but not in ordinary cells. The tumor cells are targeted by a small molecule directed by homing vectors that release the drug only in proximity of the cells.

Published by Globes [online], Israel business news - - on July 30, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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