Medgenics develops technology for the renewal of production by the body of proteins.
Israel Angels Management Ltd., the country’s largest group of angel investors, is investing $1.3 million in biotechnology start-up Medgenics Ltd. Private investors from London are also investing in the company through Israel Angels UK subsidiary. Medgenics is Israel Angels’ eighth investment so far this year.
Medgenics was founded in 2000, and has raised $20 million to date from Alta Berkeley Venture Partners of the US, Koor Corporate Venture Capital, and Morris Kahn’s Aurum Ventures Mk1 Ltd.
Medgenics develops technology for the renewal of production by the body of proteins. The company’s platform can provide treatments for a wide range of diseases, including anemia and hepatitis C, using proteins continuously excreted by the body over time. Medgenics has demonstrated proof-of-principle of its treatment procedure, using its biopump to produce and deliver erythropoietin (EPO) in anemic patients.
Published by Globes [online], Israel business news - www.globes.co.il - on November 20, 2006
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