Israeli drug development company Entera Bio (Nasdaq: ENTX) has announced a $275 million private placement. Prior to the announcement the company had a market cap of $101 million, so that the investment represents a major change in the company’s situation.
The new funds will finance the company until 2030 including a Phase III trial for its lead product for the treatment of osteoporosis, which if successful will allow it to apply for FDA marketing approval.
The Private Placement is led by existing investor BVF Partners with participation from new investors, including Longitude Capital, Vivo Capital, TCGX, Spruce Street Capital, Venrock Healthcare Capital Partners, RA Capital Management, Perceptive Advisors, Driehaus Capital Management, Logos Capital and Catalio Capital Management, among others.
The price per share in the private placement is $2.04 per share, close to $2.05 at the opening of trade this morning. The share price is currently 75% higher at $3.57.
Leerink Partners is acting as lead placement agent for the Private Placement. Evercore ISI, Guggenheim Securities, Cantor, LifeSci Capital, and Canaccord Genuity are acting as co-placement agents for the Private Placement. Greenberg Traurig, and Herzog Fox & Neeman are acting as counsel to Entera.
"Changed its face"
Entera Bio CEO Miranda Toledano tells "Globes," "In the last four years, Entera has changed its face. The company has always had good technology, but from 2022-2023, we almost completely replaced the management, the entire product pipeline that we have today is new, the regulatory track that we have built is new. We have transformed Entera into a company that is rooted in Israel but is fully competitive in its category in the international arena."
Toledano joined the company after over 20 years of experience in senior positions in the biotech sector. She served as COO, CFO and Director of TRIGR Therapeutics, a clinical-stage bispecific antibody company focused on oncology, which was acquired by Compass Therapeutics in June 2021. Although this company is international, she managed it partially from Israel, to which she returned after years abroad for family reasons. She also manages Entera from Israel.
Prior to her time at TRIGR, she served as Head of Healthcare Investment Banking at MLV, as VP of Royalty Pharma’s Investment Group, and previously founded and managed the Biomed Division at Kost Forer Gabbay - EY Israel.
"I was invited to join Entera’s board of directors in 2018, and when in 2022 it was decided to make a change in the company, one of the major investors asked me to lead it, because of my ability to connect the scientific field with the business field and the capital market. "I was appointed to the position after the company went through four CEOs in four years."
Market cap of NIS 522 million
Entera develops oral drugs to replace injectable drugs, mainly drugs based on peptides and proteins. It was originally founded on technology developed by Ormed, a company listed on the Tel Aviv Stock Exchange (TASE) with a market cap of NIS 522 million, and therefore Ormed is entitled to royalties if Ormed's drug does indeed reach the market.
Entera's most significant collaboration agreement today is with Opko, also listed on Tel Aviv. Under this agreement, Opko develops unique proteins and peptides, while Ormed develops the delivery method, and the companies share both the costs and the revenue. "We preferred this approach over a royalty agreement, because it leaves us with ownership of the products," says Toledano.
This agreement includes three products. The first product is a replacement for an existing injection: a drug to suppress activity in the parathyroid gland, which is expected to enter clinical trials this year. Two other products are not versions of existing drugs, but products that do not exist on the market and may be category leaders, but are in the early stages of testing: a drug that combines the hormones GLP1 (like Ozempic) with glucagon for metabolic diseases such as diabetes and obesity, and OXM, a peptide that acts as a stimulator of GLP1 and glucagon secretion.
While originally founded on the basis of technology developed by Ormed, in recent years Entera has developed its own technology that allows for the administration of drugs by a regimen of one pill per day (compared to 3-5 pills in the previous technology).
Published by Globes, Israel business news - en.globes.co.il - on July 27, 2026.
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