Quiet Therapeutics Ltd. has raised $5.5 million from Pontifax and Mori Arkin's Arkin Holdings Ltd., states Biomedix Incubator Ltd. (TASE:BMDX) subsidiary Gefen Biomed Investments Ltd. (TASE: GEFEN). The investment will be in stages. $300,000 has already been transferred for a feasibility study, and the rest of the investment will made if it is favorable.
Quiet Therapeutics, founded in 2010, is developing a proprietary nanoparticle-based delivery system (gagomers) for the targeted delivery of chemotherapy for the treatment of cancer and anti-inflammatory drugs.
Pontifax was a partner in the founding of Quiet Therapeutics as part of its collaboration with Roche Holding AG (SWX: ROG) to found six companies at the Ashkelon Technological Industries (ATI) and Van Leer Ventures Jerusalem Ltd. incubators. Roche owns the rights to one of Quiet Therapeutics' products and considers the company to be one of the two best companies to emerge from the collaboration to date, along with cCam Biotherapeutics Ltd. cCam, which is also a Gefen portfolio company, has raised $5 million.
Gefen has 30 early-stage life sciences projects. Biomedix is considering Gefen's future, including investing in its projects or distributing Gefen's holdings as a dividend in kind.
Published by Globes [online], Israel business news - www.globes-online.com - on January 15, 2013
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