Sources inform ''Globes'' that lipids-based products developer Enzymotec Ltd. is considering an IPO on Nasdaq at a company value of $200 million. So far as is known, company has not yet picked underwriters.
Enzymotec declined to comment on the report.
Enzymotec develops lipid-based food supplements, infant nutrition, and medicines. It is owned by Kibbutz Maanit's Galam Ltd., Ofer Hi-Tech Ltd., GlenRock Israel, Millennium Material Technologies Fund, and Mexico's Arancia Industrial SA de CV. The company has been considering an IPO for years, and reviewed the option with the opening of a window of opportunity in the Wall Street primary market in the past few months. Other Israeli life sciences are doing the same, including Kamada Ltd. (TASE: KMDA), which has already picked underwriters, Alcobra Ltd., which has filed a prospectus with the US Securities and Exchange Commission (SEC), and Home Skinovations Ltd.
Enzymotec was founded in 1998 at Ofer Hi-Tech's Naiot Venture Accelerator. The company's annual turnover is currently tens of millions of dollars, and it is profitable. Its more than 150 employees include over 100 Israelis, at facilities in Israel, the US, China, India, Russia, and Sweden. It has sales in over 40 countries worldwide, including the US.
On the basis of an invention for synthesizing fatty acids by founder Dr. Basheer Sobhi, Enzymotec produces a wide range of products, including a drugs for reducing cholesterol and the treatment of attention disorders, and slowing cognitive degeneration in adults, as well as nutritional supplements for infants. Although the products are classified as nutritional supplements, the company has conducted clinical trials to demonstrate their effectiveness.
"Globes" named Enzymotec as one of Israel's most promising start-ups in 2007.
Published by Globes [online], Israel business news - www.globes-online.com - on February 19, 2013
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