Hurvitz, Zabludowicz to invest $14m in Se-cure Pharmaceuticals

Se-cure is developing a Selective Estrogen Receptor Modulator (SERM) for the management of menopause.

Pontifax Fund, headed by Eli Hurvitz, and Tamares Group headed by Poju Zabludowicz will invest $14 million in Se-cure Pharmaceuticals Ltd.. The funds will be invested in several stages depending on the progress of the company's product.

Se-cure is developing a unique Selective Estrogen Receptor Modulator (SERM) for the management of menopause known as Femarelle. The aim of the investment is to enable Femarelle to complete Phase III clinical trials - the final trial for effectiveness before marketing.

Prior to the current round of funding, the company had raised $9 million.

Se-cure's product is already sold by Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) as a dietary supplement and has recorded $25 million in sales worldwide.

The product is based on soya but has a unique composition that can be patented.

Published by Globes, Israel business news - - on December 20, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018