NeuroDerm Ltd. has received a $2.5 million loan from investors. Capital Point Ltd. (TASE:CPTP), owns 34% of NeuroDerm through Ofakim Hi-Tech Ventures.
Current investors include Omrix Biopharmaceuticals founder, president and CEO Robert Taub, who recently sold Omrix to Johnson & Johnson for $425 million and Prof.. Shmuel Cabily, who invented the patent on which the products NeuroDerm is developing are based.
NeuroDerm is developing transdermal patches for the treatment of neurological diseases. The first product is a levodopa (L-DOPA) skin patch for Parkinson’s disease.
Last week NeuroDerm obtained a $400,000 grant from the Office of the Chief Scientist.
NeuroDerm chairman Dr. Oded Lieberman said, "The funds will finance clinical trials on the patch and continued development of a new type of product, which will help treat Parkinson's disease."
Published by Globes [online], Israel business news - www.globes-online.com - on August 24, 2009
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