The company is Capital Point's second proctology company; the other is ResQ Medical.
Controlled-release drug delivery developer RDD Pharma Ltd. has raised NIS 1.3 million. Capital Point Ltd. (TASE:CPTP) incubator Ofakim Hi-Tech Ventures, where the company is based, invested NIS 1 million, and RDD chairman Dr. Arie Giniger invested the rest.
Dr. Giniger previously worked for Schering-Plough R&D and cosmetics company Careline Ltd.. He is the bother of Taya Investment Co. Ltd. (TASE: TAYA) controlling shareholder Ami Giniger.
RDD has developed an intra-anal drug delivery device. The company's products are based on repurposing authorized active pharmaceutical ingredients (APIs) for other indications and combining them into the company's proprietary drug-delivery technology. It is Capital Point's second proctology company; the other is Meytag Technology Incubator portfolio company ResQ Medical Ltd., which is developing a treatment for anal fistulas.
Published by Globes [online], Israel business news - www.globes-online.com - on November 7, 2010
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