Sources inform ''Globes'' that High Tech Lipids Ltd., a graduate of Misgav Technology Center, has signed an memorandum of understanding with a European pharmaceutical company to invest $5 million in the company. The name of the investor was not disclosed.
The proceeds will finance preclinical trials of the company's product, a total parenteral nutrition (TPN), or intravenous nutrition, lipid that enhances quality of care, reduces healthcare costs, and may saves lives. The company claims that its patented lipid for TPN may also mitigate risks associated with infections and other complications associated with current products in the $2.2 billion US TPN market.
High Tech Lipids was founded by Dr. Geila Rozen, the head of the Clinical Nutrition Department at Rambam Medical Center in Haifa, and Irit Shochat, the the head of the pediatric nutritionists team at Rambam. The CEO is Youval Saly. Company medical director Prof. Pierre Singer is director of the General Intensive Care Department and head of the Institute of Nutrition Research at Rabin Medical Center, Beilinson Hospital in Petah Tikva, and teachers at Sackler School of Medicine at Tel Aviv University.
Published by Globes [online], Israel business news - www.globes-online.com - on April 23, 2008
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