Biologics co SmartZyme raises $4m from OrbiMed

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The Israeli startup's Provolution platform is for protein design and engineering of both new and better therapeutics.

Israeli biopharmaceutical company SmartZyme has raised $4 million from healthcare investment firm Orbimed. Based in Ness Ziona, the biologics developer utilizes its proprietary Provolution platform for protein design and engineering of both new and better therapeutics. SmartZyme also appointed Nissim Darvish, senior managing director at OrbiMed Israel, and Stephen Squinto, venture partner at OrbiMed, to its board of directors.

SmartZyme CEO and cofounder Shilo Ben-Zeev said, The investment by OrbiMed will allow us to continue developing new therapeutics using our Provolution protein technology and to improve the administration of existing biologics as we prepare to license our innovative enzyme and device for diabetic blood glucose monitoring."

Darvish said, We believe that SmartZymes proprietary Provolution technology holds great potential to develop important biologics. We are particularly attracted by SmartZymes technologys ability to quickly screen and take advantage of parallel multi-process workflow that can apply to every protein or enzyme for a quick evolutionary leap within several months."

Published by Globes [online], Israel business news - www.globes-online.com - on October 27, 2015

Copyright of Globes Publisher Itonut (1983) Ltd. 2015

 
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