Cure will invest in Biomedix portfolio companies.
Someone forgot to tell Biomedix Incubator Ltd. (TASE:BMDX) that the window for public offerings has closed. Subsidiary Cure Investments Ltd. has raised NIS 55 million at a company value of NIS 98 million, after money, from leading Israeli institution investors. These are allegedly the investors who are the most averse to invest in units of Mid-Cap companies.
Biomedix originally planned the offering for February, but postponed it because of the inclement market climate. This time round, the institution investors apparently decided to invest in something.
Biomedix set up Cure Investments in late 2007 to invest in portfolio companies that graduated from its incubators Meytav Technological Enterprises Innovation Center Ltd. and Ashkelon Technological Industries (ATI), but which have not yet begun clinical trials. Cure has made three investments to date: BioMagnesium Systems Ltd., which is developing biodegradable magnesium implants; ReValve Ltd., which is developing a platform for treating calcific aortic stenosis for persons are not surgical candidates; and VVT Medical Ltd., which is developing a minimally invasive treatment for varicose veins.
Published by Globes [online], Israel business news - www.globes-online.com - on June 5, 2008
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