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Yissum Ltd. Announces Formation of Integra Holdings, a Biopharmaceutical Holding Company
10/31/2012 7:41:42 AM
Integra Holdings closes U.S. $7.0 million private financing -
JERUSALEM--(BUSINESS WIRE)--Yissum Research and Development Company of the Hebrew University of Jerusalem, the technology transfer company of the Hebrew University, announced today the inception of its subsidiary, Integra Holdings, a holding company focusing on biopharmaceutical companies based on inventions of researchers from the Hebrew University. In addition, Integra Holdings announced today the closing of a U.S. $7.0 million first round of financing at a pre-money value of U.S. $25 million.
Integra Holdings focuses on biotech companies with products mostly in clinical stages of development, which present innovation and competitive advantages in their respective fields. Integra Holdings’ robust portfolio is currently composed of companies operating in diverse therapeutic fields of high industry interest ranging from oncology to Alzheimer’s disease, and from infectious diseases to allergies, and includes four Phase II companies, three Phase I ready companies and one company in pre-clinical stages of development. The companies are Algen, Atox Bio, Avraham Pharmaceuticals, Doxocure, LipoCure, Lipomedix, Omer Therapeutics and Tiltan Pharma.
The first round of investment was led by Invatech, a group of private U.S. and Israeli investors. Other investors include institutional investors from Israel. The funds raised will be used to advance Integra's existing portfolio companies and, with Yissum's mediation, to add additional promising projects originating from the Hebrew University.
"Integra Holdings, which will invest in the most promising selection of biotech products and technologies originating from the Hebrew University, presents a new financing approach for supporting and developing innovative biotech products," said Yaacov Michlin, CEO of Yissum and Chairman of Integra Holdings' Board of Directors. "While advancing the products currently in the pipeline of its portfolio companies, Integra will continue to search for and invest in new additional projects based on the Hebrew University's most promising inventions in the field of life science, thus enabling the most comprehensive implementation of the business potential of scientific and medical research at the Hebrew University."
“We are extremely pleased with our first and successful capital raising round, reflecting the faith of our investors in Integra Holdings. We highly believe in the therapeutic products of our portfolio companies, which were rigorously chosen based on scientific merit and commercial potential," said Dr. Noa Shelach, CEO of Integra Holdings. "Integra offers a unique model for advancing cutting edge science and innovation towards commercial realization. We will do our best to advance Integra's vision of bringing novel and better medicines to market for the benefit of humanity."
About Integra Holdings
Integra Holdings, an R&D and holding company founded by Yissum, the technology transfer company of the Hebrew University of Jerusalem, provides funding, strategic planning, business development and R&D guidance to an exclusive and promising selection of biotech companies. Integra's current portfolio is composed of four Phase II companies, three Phase I ready companies and one company in pre-clinical stages of development, developing therapies for a variety of indications including cancer, CNS disorders, infectious diseases, and allergies.
Yissum Research and Development Company
Global Media Liaison