Israeli start-up Enzymotec, which develops technology to produce commercial-scale quantities of organic substances, has raised $2 million in its second fundraising round - $1.5 million from Galam and $0.5 million from the Millenium Materials Technologies Fund II.
Bank Hapoalim has raised its rating on Osem to "Buy, Low Risk" from "Hold" and increased its target price to NIS 33 from NIS 31.
Lehman Brothers has cut its rating on Fundtech (Nasdaq: FNDT) from "Strong Buy" to "Buy", slashed its target price from $19 to $8, and severely adjusted its year 2001 cash EPS forecast from $0.48 to a cash loss per share of $0.52.
Finnish network security developer Stonesoft has lodged a complaint with the European Commission, claiming that Check Point (Nasdaq: CHKP) is abusing its market position by restricting free competition. The European Commission is investigating the complaint.
Japanese electronics manufacturer Hitachi has invested an undisclosed amount in a Vertex Management Israel fund. David Heller, a partner at Vertex, said the investment reflected the importance Hitachi attached to the Israeli market.
Israel start-up Lambda Crossing, which develops advanced communications components, has completed a $13 million strategic funding round, led by UK based Young Associates. Agilent Technologies and existing shareholders also participated in the round.
Israeli reassessment of cease-fire: Israel will continue its efforts to implement the Tenet document and retains the right of self-defense and to foil attacks directed at its citizens and soldiers. There will be no pullback from confrontation points (required by Tenet) until the 'cessation of terror'.
Israeli start-up Magnifire Websystems has raised $5.5 million from Lucent Venture Partners and Jerusalem Venture Partners, in exchange for 45% of its shares. Telkoor Telecom did not participate in the round but announced that its 7.5% holding in Magnifire was not diluted.
Fundtech (Nasdaq: FNDT) reports that it will deliver a turnkey web cash management solution to Synovus Financial Corp, a multi-financial services company with more than $15.2 billion in assets and 39 banks in south eastern US States. No value was disclosed.
Intel president Craig Barrett: Construction work on Intel's new Irish microprocessor plant, suspended in March, will resume "sometime in early 2002". Intel has not yet committed itself to a new $3.5 billion chip plant in Israel.
Medgenics, an early stage US/Israel biotechnology company, announced today that it has completed its Series A funding round, raising $7 million from three leading venture funds: Alta Partners (US), Koor Corporate Venture Capital (Israel) and Alta Berkeley Venture Partners (UK).
Published by Israel's Business Arena on 20 June, 2001