Cell ID co NST raises $5m
The financing round was held at a company value of $70 million.
Other investors in NST include Clal Biotechnology Industries Ltd. (CBI), Polar Communications Ltd. (TASE: PLRC), Israel Phoenix Assurance Ltd. (TASE: PHOE1;PHOE5) through Atara Technology Ventures , Technorov Holdings Ltd., Johnson & Johnson Development Corp., I.D Federman Holdings Ltd., and Docor International BV (a fund of the Van Leer Institute). Over $20 million has been invested in NST to date.
NST has developed a method for identifying cells undergoing apoptosis, a stage of cell death. The company has developed a family of molecules designed to locate and attach to apotosis cells but not attach to healthy cells. On the basis of this discovery, the company has developed in two directions: diagnostics, where it is operating independently, and therapeutics, where it has a cooperation agreement with Teva, signed nine months ago. Sources said that NST’s first diagnostic product was already undergoing stage I clinical trials.
Published by Globes [online], Israel business news - www.globes.co.il - on November 20, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006
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