Xenia Venture Capital Ltd. (TASE:XENA) portfolio company BioProtect Ltd. has obtained an additional $750,000 investment from Virginia Life Sciences Investments LLC (VLSI). The investment will enable BioProtect to raise an additional $500,000
BioProtect has developed the SpaceGuard, an inflatable balloon that creates a separation or an increase in geometric distance between tumors and healthy organs during radiation therapy, thereby reducing the hazards of radiation on healthy tissue. The product also reduces the number of radiation treatments necessary, which lowers costs.
VSLI has made several investments in Israeli biotechnology and medical devices companies, including Xenia portfolio company NeatStitch Ltd. and Misgav Venture Accelerator portfolio company Virtual Ports Ltd., both of which are developing laparoscopic products for abdominal surgery.
Published by Globes [online], Israel business news - www.globes-online.com - on July 8, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010