CollPlant raises $1.5m

The company has developed human collagen from tobacco plants.

4 September 06 16:4, Gali Weinreb

CollPlant Ltd., which has developed human proteins from tobacco plants, has raised $1.5 million at a company value of $8 million before money. The round was led by a company that could become a future strategic partner, as well as Teva chairman Eli Hurvitz’s Pontifax Ltd.

Biomedix Incubator Ltd. (TASE:BMDX) subsidiary Meytav Technological Enterprises Innovation Center Ltd. owns 47.3% of CollPlant. Biomedix owns 75% of Meytav. Pontifax parter and Biomedix director Ran Nusbaum recently said that CollPlant was one of Biomedix’s most promising portfolio companies.

CollPlant’s first protein developed for production is human collagen, one of the commonest proteins in the body. It is a building block in many tissues, including cartilage, sinew, bone, teeth and skin.

Published by Globes [online], Israel business news - www.globes.co.il - on September 4, 2006

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