Alfred Akirov and Teva are also participating in the financing round, which is based on a $100m company value.
Sources inform ''Globes'' that Phillip Frost, former chairman and CEO of Ivax Corporation, will invest in Protalix Biotherapeutics Ltd. on the basis of a company value of more than $100 million. Also participating in the $17 million fundraising round are Alfred Akirov and Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA). Protalix declined to comment on the report.
Protalix is owned by Biocell Ltd. (TASE: BCEL) (formerly Orazit Ltd.) with a 33.15% stake, Marathon Venture Capital Fund (TASE: MARA) (14.9%), Tamares Capital, Docor International BV (a subsidiary of the Van Leer Foundation), and Atara Technology Ventures Ltd., Technorov Holdings Ltd., Ziff Asset Management, and Pontifax Ltd. (controlled by Teva chairman Eli Hurvitz). The company’s previous financing round was held at a company value of $75 million, and it raised $29 million in previous rounds.
Published by Globes [online], Israel business news - www.globes.co.il - on August 22, 2006
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