Micromedic Technologies Ltd. (TASE:MCTC) will receive NIS 5.9 million from a group of 29 investors.
The investment will be made on the basis of NIS 2.90 per share.
Micromedic, headed by CEO David Solomon, develops bio-markers for early detection and improved treatment of cancer and diabetes. The holding company has four subsidiaries which are developing bio-markers in collaboration with research institutions in Israel and around the world.
The company also owns about 20% of MET, which develops a micro-surgery device for small blood vessels.
Earlier in the month, several of Micromedic's units won a combined NIS 850,000 in grants from the Office of the Chief Scientist.
Shares in Micromedic rose 0.3% today. The shares are up 85% so far in 2009.
Published by Globes [online], Israel business news - www.globes-online.com - on June 18, 2009
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