Omrix founder Taub in LifeBond $8m funding round

First round investors GlenRock Israel and The Zitelman Group also participated.

Biosurgical products developer LifeBond Ltd. has raised $8 million in its second financing round. Pitango Venture Capital and Robert Taub led the round. Current investors GlenRock Israel and The Zitelman Group also participated.

Taub founded Omrix Biopharmaceuticals Ltd. and led the company until it was sold to Johnson & Johnson (NYSE: JNJ) for $438 million in 2008. Following the sale, Taub said that he would seek new investment opportunities, and the investment in LifeBond is the first. Prior to the sale, however, he invested in Glycominds Ltd. and Neuroderm Ltd.

Glenrock and the Zitelman Group invested $1.5 million in LifeBond's first financing round in August 2007. Trendlines International Ltd. provided seed financing.

LifeBond is developing surgical sealants and hemostats intended for preventing leakage and bleeding. The company will use proceeds to complete the pre-clinical and clinical phases of its initial product: LifeSeal SLR, a sealant indicated for reinforcement of gastro-intestinal anastomoses.

Published by Globes [online], Israel business news - - on June 2, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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