BioSight Raises $13 Million

Israeli leukemia treatment co BioSight raises $13m

Globes correspondent (16 May 2016)

The financing will be used to fund a multi-center Phase IIb clinical trial for Acute Myeloid Leukemia (AML) drug Astarabine.

Israeli drug development company BioSight has closed a $13 million financing round led by the Mori Arkin’s pharmaceutical investment firm, Arkin Holdings, and the US based venture firm Primera Capital.

Based in Karmiel, the company is focused on the development of innovative chemotherapy pro-drugs with reduced toxicity, Proceeds of the financing will be used to fund a multi-center phase IIb clinical trial with the company’s lead product, Astarabine, for the treatment of AML.

According to the investment terms, Arkin Holdings and Primera Capital will invest $5 million each, and an additional $3 million will be invested by existing shareholders including Michael Ilan Management & Investments.

BioSight is currently completing a Phase I/IIa clinical trial to evaluate the safety and efficacy of Astarabine as a monotherapy for AML and [Acute Lymphoblastic Leukemia] ALL, conducted at Rambam Hospital in Israel under the supervision of Dr. Tsila Zuckerman. Read the full story in Globes.

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