Sources inform ''Globes'' that biotechnology company Aposense Ltd. is considering an IPO on the Tel Aviv Stock Exchange (TASE). The company held its last financing round in late 2008 at a company value of $100 million, and the IPO will presumably be held a much higher valuation.
In the past, Aposense had considered going public on Wall Street, and is reportedly still thinking about it.
Aposense's flagship product is a diagnostic kit, but in terms of development, cost, and timetable, it more closely resembles a drug development company. The expectations of the company's investors also resemble expectations of a drug development company. The company's technology is a molecule that attaches to cells undergoing apoptosis (programmed cell death).
Apoptis is part of the body's natural life cycle and is characteristic of various cancers, neurological diseases, strokes, and other illnesses.
Aposense's first sensor targets brain cancer, in order to improve radiation and chemotherapy treatment protocols. Current brain cancer treatments are somewhat of a trial and error affair, with the result that treatments of similar tumors in different patents can results in completely different outcomes.
Published by Globes [online], Israel business news - www.globes-online.com - on March 28, 2010
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