Review excerpts from news articles and press releases about
Trendlines and about our clients.
December 2007
BOS in Dimex acquisition talks The
cash and share deal is valued at $4.5 million.
Adi Ben Israel, Globes[online] (December 31, 2007)
Enterprise software and RFID solutions provider BOS-Better
Online Solutions Ltd (NASDAQ: BOSC - News; TASE: BOSC), announced today that it is in advanced
negotiations for the acquisition of Dimex Systems Ltd. The parties expect
to complete the acquisition in January. According to a notice by BOS, it
will acquire the majority of Dimex's assets for $4.5 million in cash and
shares. This amount will include the intellectual property rights and goodwill
of Dimex. In addition, BOS will pay $7 million for Dimex's inventory, accounts
receivable and fixed assets. This second amount is subject to adjustments
based on the 2007 year-end financials of Dimex. The shares of BOS comprise
approximately 3.5% of its outstanding shares. •
N-trig puts your fingers in control of your laptop
Israel21c staff (December 26, 2007)
Using N-trig, you can go through documents, make notes, highlight items, check your emails, surf the Net, and either enter the URL address of a site by touch, or with N-trig's stylus. Fed up with using a keyboard and mouse on your laptop? Then an Israeli start up could have the answer: a new technology that allows you to operate your computer with a special pen and zero-pressure finger touch. DuoSense, developed by Kfar Saba based N-trig, has already been purchased by US computer giant Dell, which is installing it on its new Latitude XT tablet computer. Launched last week, the Latitude XT should reach the market any day now. •
Perrigo to market generic allergy medication
The branded drug had 12 month sales of $1.4b.
Globes' (December 30, 2007) Perrigo Company (Nasdaq:PRGO; TASE:PRGO) has obtained US Food and Drug Administration
(FDA) approval for the company's generic Cetirizine Hydrochloride. The medicine
is marketed by McNeil Consumer Healthcare as Zyrtec, for the relief of allergies
and hives. Zyrtec is a non-prescription version of the original prescription
strength version of Cetirizine. McNeil is a subsidiary of Johnson & Johnson
(NYSE:JNJ).
Perrigo will market two doses of generic Cetirizine in tablet form, 5 and
10 mg, and will be marketed under store brand labels. The company added that,
according to Wolters Kluwer data, branded sales of Cetirizine totaled $1.4
billion in the 12 months through October 2007.
•
LifeOnKey raises $5m
The firm, in the midst of a $10 million funding round, claims 2 million peole subscribe to its service.
Gali Weinreb, Globes online (December 27, 2007)
Medical informatics start-up LifeOnKey
Ltd. has raised $5 million out of a planned
$10 million financing round. Medica Venture Partners partner Batsheva Elran will
become join the company as board chairman. LifeOnKey, formerly Global Medical
Networks Ltd., focuses on IT solutions for patient medical records, allowing
patients to share information. The company's flagship product allows any person
to gain real time access to his personal health information at any location through
the Internet, cellular handset, handheld computer, and disk-on-key, while maintaining
full confidentiality. According to company CEO Dr. Linda Harnevo, the company
now has one million subscribers in Israel and Europe.
•
Body armor co Rabintex wins new US order
Leader Capital Markets gives Rabintex a "Buy" recommendation with a target price of NIS 40.
Globes' online (December 23, 2007)
Personal and vehicle armor kits manufacturer Rabintex
Industries Ltd. (TASE:
RABN) US subsidiary Burtek Inc. has received a $12.9 million order for its products
from a US customer. Deliveries will made during 2008. Leader Capital Markets
Ltd. says that the customer was probably International Truck and Engine Corporation,
and that the present order is part of a general contract between the companies. •
New Israeli cleantech fund sets out to raise $100m
Tamarix co-founder Shai Beilis: Cleantech enjoys broad support.
Batya Feldman, Globes[online] (December 17, 2007)
Sources inform ''Globes'' that former Formula Ventures partner Shai Beilis and former Star Ventures partner Yaffa Krindal are setting up new $100 million cleantech fund called Tamarix Ventures LP. Tamarix will become Israel's largest cleantech venture capital fund. It will invest in companies regardless of geographical region, fields and stage of development.
In an exclusive interview with "Globes", Beilis voiced optimism about the fund, and said the challenges in cleantech were many. "There's now more air pollution, natural resources are dwindling, and technological products can provide solutions that will reduce the risks, while generating profits. Cleantech is enjoying broad support, regulation is conducive to its growth, public opinion is favorable, and large corporations are willing to invest in it." •
Personal armor co Rabintex names new CEO
Ron Gafni will step down after five years on the job.
Avi Shauli, Globes[online] (December 13, 2007)
Ballistic armor maker Rabintex Industries Ltd. (TASE: RABN) has appointed Dr. Ehud Ganani as CEO. He will replace Ron Gafni, who announced his departure today after five years on the job, in order to pursue other interests. The share fell 4.8% today.
Ganani currently serves as chairman and CEO of TraceGuard Technologies Inc. (Bulletin Board:TCGD), which develops systems to improve the detection of explosives and hazardous materials TraceGuard said Ganani will step down as CEO with the expiration of his contract in February 2008, but that he will continue to serve as chairman. The share fell 3% in early trading. •
BOS raises $2m in private placement
The placement was made at a 9% premium on the share price.
Shiri Habib, Globes[online] (December 12, 2007)
RFID solutions developer BOS Better Online Solutions Ltd. (Nasdaq: BOSC; TASE:BOSC) has raised $2 million in a private placement of shares with Catalyst Investments LP and DS Apex Holdings Ltd. (TASE:DSAP). The company issued 833,560 shares at $2.40 per share, a 9% premium over the share price at the time. The share rose 2.3% on Nasdaq yesterday to $2.25, lowering the premium to 6.7%.
BOS will use proceeds from the offering to strengthen its balance sheet, potential acquisitions, and general corporate purposes. •
Hebrew U. tech transfer co focuses on cleantech projects
Funds from exits of Yissum portfolio companies will flow to cleantech.
Merav Ankori, Globes[online] (December 12, 2007)
Sources inform ''Globes'' that Yissum
Technology Transfer Company of the
Hebrew University of Jerusalem will allocate all
proceeds from the exit of any portfolio company to cleantech ventures.
Yissum does not disclose its budget, but reportedly had $40 million revenue
in 2006, including $30 million in royalties and $10 million from research
agreements, which accrues to Hebrew University. The university then allocated
10-15% of this revenue back to Yissum. Allocations to cleantech projects
will amount to several million shekels, constituting a hefty proportion
of the company's total budget. •
In other news from Yissum ... Yissum turns to private equity for funding Sales of products based on its intellectual property hit $1b.
Gali Weinreb, Globes[online] (November 18, 2007)
Sources inform ''Globes'' that Yissum
Technology Transfer Company of the Hebrew University of Jerusalem has set
up a subsidiary with seven portfolio life sciences companies and is seeking to
raise several million dollars from private investors and funds. There have been
reports that Yissum was considering an IPO on the Tel Aviv Stock Exchange (TASE),
but it has shelved these plans because of the current market conditions. •
OTI expands Warsaw card deal
The Polish city already uses OTI cards on its mass transit system.
Globes' correspondent, Globes[online] (December 10, 2007)
Smart card developer OTI - On
Track Innovations Ltd. (Nasdaq:
OTIV; DAX: OT5) today announced that its subsidiary, ASEC S.A. (“ASEC”)
in Poland, will provide the Transport Department of the City of Warsaw with additional
public transportation and street parking contactless tickets. Following Warsaw,
the program is expanding to other cities in Poland including Gdynia, Plock and
Rybnik.
The orders are for more than $500,000 and delivery is expected to be completed
by the end of this year. •
Anti-terror radar start-up Magna raises funds
Magna BSP has raised NIS 8 million from a current shareholder.
Gali Weinreb, Globes[online] (December 6, 2007) Magna
BSP Ltd., a graduate of the Advanced Technologies Center (ATC) incubator in Dimona which is controlled by Maayan Ventures Ltd. (TASE:MAYN), has raised NIS 8 million from a shareholder in the company. The financing was at a company value of NIS 125.5 million after money. After the investment, Maayan will hold 8.8% of the company after full dilution.
Magna commenced operations in the framework of the Dimona incubator in January 2001. The company develops and markets electro-optic radar systems. The product was initially aimed at locating birds on aircraft runways, but with increasing anti-terror demand after the events of September 11th, 2001, the company decided to make use of the product for protecting against humans. The company raised NIS 4.3 million one year ago, from an institutional investor, apparently the same one, at a company value of NIS 68 million. •
Medgenics raises pounds sterling 3.3m in AIM IPO
The biopharmaceutical start-up has its R&D center in Carmiel.
Tali Tsipori, Globes[online] (December 2, 2007)
US-Israeli biopharmaceutical start-up Medgenics
Inc. raised a gross pounds
sterling3.3 million in its IPO on London’s
Alternative Investment Market (AIM) on Thursday at a company value of pounds
sterling10.4 million, after money. The company offered 104.1 million shares
at pounds sterling0.10 per share. Trading in the share will begin on Tuesday
under the ticker "MEDG".
Medgenics is registered in the US and has its R&D center in Carmiel,
in the lower Galilee.
•
November 2007
Ham-Let negotiating major contract
The pipes and valve maker is in talks with a leading company in the industry.
Uri Shuster, Globes[online] (November 27, 2007)
Pipes and valves maker Ham-Let
(Israel-Canada) Ltd. (TASE: HAML) is negotiating with a leading
company in the industry that wants to buy a range of the company's products for
$5-7 million in 2008 and $27 million in 2009. Ham-Let posted $58 million revenue
in January-September 2007, and if the company's sales growth continues in the
fourth quarter, the new contract means that turnover in 2008 could be 7% more
than in 2007 and the company could have double-digit growth in 2009. •
Skin treatment co HealOr raises $8m
Pitango led the financing round.
Gali Weinreb, Globes[online] (November 26, 2007)
Sources inform ''Globes'' that dermatological start-up HealOr
Ltd., which is
developing medications for the treatment of skin disorders, including chronic
wounds, has raised $8 million from a group of investors led by Pitango
Venture Capital. The proceeds will help the company move forward with the
development of its flagship product, HO/O3/O3, for the treatment of diabetic
foot ulcers and venous leg ulcers. The drug recently completed Phase I
safety trials which found it to be safe to use with no significant side
effects.
Pitango senior partner Ruth Alon said, "HealOr's knowledge in molecular dermatology,
and its impressive achievements in the five years since it was founded, make
it a leading player in the wound treatment field. The company has managed, within
a short space of time, to develop an innovative technology and carry out clinical
trials to test its products."
•
NiliMedix insulin pump wins CE Mark certification
NiliMedix is a D Medical subsidiary.
Gali Weinreb, Globes[online] (November 25, 2007)
D Medical Industries Ltd. (TASE:DMDC) subsidiary NiliMedix
Ltd. has received EU CE Mark Certification to market its multiple-use insulin pump in Europe.
NiliMedix's insulin pumps are smaller and lighter and they break down less as they have no moving parts such as motor, or reduction gear. The company has not yet indicated whether it has a distributor or marketing partner in Europe, and this will probably be the next step. NiliMedix is also moving forward its application to the US Food and Drug Administration (FDA) for approval to market the pump. •
Executive Q&A: Optimata Shifts Business
Emphasis
John Russell,
BioIT Systems Biology newsletter
Founded in 2000 by bio-mathematician, Zvia
Agur, Israel-based Optimata has
spent the intervening years developing its Virtual Patient platform, a
simulation engine for drug development and for delivering personalized
medicine. Last October, Optimata reported results of a proof-of-concept
project with cancer researchers at the Nottingham City Hospital, U.K. The
Virtual Patient platform was able to predict breast cancer patients' response
to chemotherapy drugs with 70 percent accuracy - substantially greater
than many physicians using the same data. Another pilot with Lilly, this
time supporting development of a new compound, went well, and Lilly extended
its collaboration last January. •
OTI launches automated smartcard production line
The line is also designed to support governments in issuing and producing secured ID cards such as European Citizen cards.
Globes[online] (November 12, 2007) OTI - On Track Innovations Ltd. (NASDAQ: OTIV; DAX: OT5) a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments, and other applications, announced today that it will be introducing its new production line at the CARTES trade show in Paris.
The fully automated production line is designed to support the growing demand for a dual interface that works with both contact and contactless applications, such as the EMV cards that large card associations are starting to roll out, mainly in the payment sector in Europe; it is also designed to support governments in issuing and producing secured ID cards such as European Citizen cards. •
KarmelSonix device gets FDA nod
The company is traded on the Australian Stock Exchange after it was merged with
an Australian company which is active in a similar field.
Gali Weinreb, Globes[online] (November 7, 2007) KarmelSonix
Ltd., which develops and markets devices for asthma and related pulmonary
disorders, has received US Food and Drug Administration (FDA) approval for its
device, the WIM-PC. The company is traded on the Australian Stock Exchange.
KarmelSonix specializes in the mathematical analysis of sounds emanating from
the body, specifically wheezing heard in asthmatic patients. The device consists
of a sensor attached to the patient's neck and chest near the windpipe, and a
computerized system that analyses the sounds and determines whether they indicate
a life threatening situation requiring the sufferer to be admitted to hospital,
or whether the condition can treated at home or at a clinic. •
Belgian co licenses Hebrew U biodegradable plastic
The plastic is produced from protein-rich crops such as soy beans, canola rapeseed, and corn using existing technology.
Merav Ankori, Globes[online] (November 5, 2007) Yissum
Technology Transfer Company of the Hebrew University of Jerusalem
has signed a new licensing agreement with a Belgian holding company for
the commercialization of a new clean technology developed at the university.
Yissum will receive a licensing fee and royalties on sales of future products
derived from the technology. Hebrew University researcher Prof. Sergei
Brown has developed technology enabling the production of biodegradable
plastic for the food-packaging industry, by using protein-rich crops, such
as soy beans, canola rapeseed, and corn. •
Perrigo gains from competitor's problems
Revenue rises as new acquisition contributes.
Globes[online] (November 1, 2007)
Perrigo Company (Nasdaq: PRGO; TASE:PRGO) reported results for its fiscal
first quarter of 2008. Revenue for the first quarter of fiscal 2008 was
$382.7 million, an increase of 12%. Net profit on a GAAP basis was $34
million, or $0.36 per share, compared with $16.9 million, or $0.18 per
share, a year ago, which included expense for a product recall of $0.7
million after-tax, or $0.01 per share. •
October 2007
BOS buys Summit Radio
New Jersey-based Summit provides electronic components to the aviation and
aerospace industries.
Erez Wollberg and Globes’ correspondent (October 31, 2007)
RFID solutions maker BOS
Better Online Solutions Ltd. (Nasdaq: BOSC;
TASE:BOSC) has acquired Summit Radio Corp. for $4.1 million in cash and
360,000 in BOS shares, amounting to 3.7% of its share capital. BOS will
pay up to an additional $500,000 dependent upon Summit’s financial results
in 2008 and 2009. New Jersey-based Summit provides electronic components
to the aviation and aerospace industries. The company’s
two sellers shall continue to hold their management positions after the acquisition. •
In other news from BOS ...
BOS wins follow-on contract in Europe
Shiri Habib, Globes[online] (October 29, 2007)
RFID developer BOS Better Online
Solutions Ltd. (Nasdaq: BOSC; TASE:BOSC) subsidiary Odem Electronic Technologies
Ltd. has won a $500,000 follow-on order for circuit breakers and switches from
a European customer. The company did not disclose the customer’s identity.•
OTI supplies Heartland with cellphone payment solution
Heartland Payment Systems
has completed the first full deployment at Slippery Rock University in
Pennsylvania.
Globes’ correspondent
(October 30, 2007)
Contactless smart-card developer OTI
- On Track Innovations Ltd. (Nasdaq: OTIV; DAX: OT5) is supplying
Heartland Payment Systems Inc. (NYSE: HPY) with its cellular telephone payment
solutions for universities, students and merchants. Heartland has completed
the first full deployment at Slippery Rock University in Slippery Rock, Pennsylvania.
OTI did not disclose the size of the contract. Students, faculty, and staff
at Slippery Rock University received OTI's contactless smart sticker designed
for use with mobile phones. The smart sticker on the phone enables payment
at on-campus locations including campus vending machines, laundry facilities,
photocopiers, and printers, as well as at participating merchant locations
in the surrounding community.•
Kamada wins new rabies treatment tender
The company estimates sales at $2 million in 2008.
Shira Horesh, Globes[online] (October 23, 2007) Kamada Ltd. (TASE:
KMDA) has won a tender by a Latin American government to supply its Kamrab
rabies treatment. The company predicts $2 million in sales in 2008.
Kamada CEO David Tsur said that Kamrab was delivered by injection and
that it had one of the best safety and hygiene records for rabies treatments. "The Center for Disease Control (CDC) noted in its conference last month
in Atlanta to mark World Rabies Day that rabies kills 55,000 people a year,
mostly in remote and isolated areas where there is no regular medical help.
The CDC added that the US has had 7,000 cases of rabies so far this year.
It is a privilege for us to save lives." •
In other news from Kamada ... Kamada applies for FDA approval for clinical trial
The company commenced clinical trials of the intravenous version of the
drug in February.
Adi Ben Israel, Globes[online] (October 21, 2007)
Biopharmaceutical company Kamada
Ltd. (TASE: KMDA)
has filed for US Food and Drug Administration (FDA) approval to commence
Phase II clinical trials of the aerosolized form of its Alpha-1 Antitrypsin
(AAT) product to treat Cystic Fibrosis (CF). The company applied
for approval from the European Medicines Agency last month. Earlier
this year Kamada commenced Phase III trials of the intravenous version
of AAT.
According to an external survey, just 5,000 of these are currently
receiving treatment. The cost of administering a drug by inhalation
will be lower than that of intravenously administered drugs. •
Cleantech co EER raises $3.5m
The environmentally-friendly waste disposal company
was valued at $130 million.
Irit Avissar, Globes[online] (October 17, 2007)
Cleantech company Environmental
Energy Resources Ltd. (EER),
controlled by Urdan Industries Ltd. (TASE: URDN), and Shrem Fudim Kelner & Co.
(TASE: SFK) has raised $3.5 million in a private placement of 2.8% of its
share capital, at value of $130 million. The investors have a 30-day option
to purchase a further 1.5 million shares. SFK chairman Itschak Shrem said, "The
latest investment amounts to a further vote of confidence in EER's technology
and its groundbreaking solution for treating municipal, medical and low
level radioactive waste." •
Intel Capital invests $11m in Jordan Valley Semiconductor
The company develops
tools for semiconductor metrology based on x-ray technology. Globes’ correspondent
and Shmulik Shelah, Gobes[online] (October 16, 2007)
Intel Corporation’s (Nasdaq: INTC) investment
arm Intel Capital has invested $11 million in Jordan
Valley Semiconductors Ltd. The company develops tools for semiconductor
metrology based on x-ray technology. The technology enables accurate
and precise measurements for various thin-film applications in semiconductor
manufacturing, and drives new advancements for the technology industry.
Jordan Valley Semiconductors’ main
shareholders are IDB Holding Corp. Ltd. (TASE:IDBH) subsidiaries Elron Electronic
Industries Ltd. (Nasdaq: ELRN; TASE: ELRN) and Clal Industries and Investments
Ltd. (TASE: CII). Intel’s investment reduces Elron’s holding in the
company to 21%. Clal Industries owned 46% of the company before the
investment by Intel. •
Maayan Ventures to invest in carbon naotubules firm
The venture, named Fulcrum, will be founded under the auspices of the
MTA Incubator in Dimona.
Gali Weinreb, Globes[online] (October 14, 2007) Maayan Ventures Ltd. (TASE:
MAYN), which holds Rotem Ventures Ltd. (formerly ATC) in Dimona,
and 25% of Capital Point Ltd., will invest NIS 2.5 million in a
new venture to be founded under the auspices of Rotem Ventures.
The venture, which will be called Fulcrum, will focus on the development
of Carbon NanoTubules, which enable materials used principally
in the vehicle, aviation, and marine industries to be reinforced,
while simultaneously reducing their density. Maayan will invest
in the company at a value of NIS 8.8 million, with another entity
investing NIS 1.4 million at the same value. •
BrainStorm Cell Therapeutics Inc. Announces New CEO
(October 12, 2007)
NEW YORK & PETACH TIKVAH, Israel--(BUSINESS WIRE)--BrainStorm
Cell Therapeutics Inc. (OTCBB: BCLI - News), a leading developer
of adult stem cell technologies and therapeutics, today announced the
appointment of Rami Efrati as CEO. The addition of Efrati to Brainstorm's
team provides strong management skills that were important to the future
success of Brainstorm. Efrati's appointment is paramount as Brainstorm
approaches the crucial clinical phases of its research; at the same time
the company is ramping up for its pre IND FDA approval process as indicated
through the recent addition of key advisors with substantial FDA experiences. •
ETView reported to consider TASE IPO
The medical device firm hopes to raise $15 million.
Gali Weinreb, Globes[online] (October 8, 2007)
Sources inform Globes that ETView is
currently considering a TASE IPO, with the aim of raising $15 million.
The offering would value the firm at $30 million. While the firm
has not finalized its planned offering process, it has already started
to put together the prospectus. Read
the full story. • ETView was one of the participating companies in the MarketReach
America Life Sciences 2004 program.
Freshpoint sticker assures food quality
The Israeli start-up’s product changes color when the sell-by date
is reached or if the storage temperature changes.
Orli Peleg-Mizrahi, Globes[online] (7 Oct 2007)
Israeli start-up Freshpoint Quality Assurance Ltd. has
patented a sticker for food products that changes color when the sell-by
date is reached or in response to a change in the optimal storage
temperature. The company’s Time Temperature Indicators enable consumers to monitor food products and decide whether they are fit for consumption.
The company manufactures its stickers in collaboration with a leading international chemicals company under the brand name “OnVu”. The sticker’s
ink changes color over time and in response to temperature. •
Topspin Medical applies to FDA for catheter approval
The intravascular MRI catheter won European marketing approval a
few months ago.
Erez Wollberg, Globes[online] (7 Oct 2007) Topspin
Medical Inc. (TASE:TOPMD)
has applied to the US Food and Drug Administration (FDA) for marketing
approval for the company’s first-generation imaging
intravascular MRI (IVMRI) catheter. The company has completed laboratory
tests, preclinical and clinical trials for the catheter. •
Rabintex wins further US Army helmets contract
The current contract is worth $18.6 million.
Golan Fridenfeld, Globes[online] (1 Oct 2007)
Armored systems and personal protection appliance manufacturer Rabintex Industries Ltd.
(TASE: RABN), controlled by Inspire Investment Ltd. (TASE:INSP),
is continuing to reap the benefits of the tender it won last year
to produce ballistic helmets for the US Army. The company announced
yesterday that its 50% owned US subsidiary won an order worth $18.6
million (NIS 67 million) to supply ballistic helmets to the US Army.
The order will be delivered from the fourth quarter of 2007 through
the second quarter of 2008. •
September 2007
Israeli cell therapy could help PAD sufferers walk again
By Nicky
Blackburn, Israel21c
(September 27, 2007)
When two middle-aged American men paid a visit to doctors at the University
of Michigan Medical Center in Ann Arbor, they could barely walk for more
than five to six minutes at a time. Instead they took part in a trial of
a new form of cell therapy developed by Israeli company, MultiGene
Vascular Systems (MGVS), and rather than lose a limb, both men are now up and about, walking
in a way they haven't managed for years. Read
the full story.• MGVS was one of the participating companies in the MarketReach
America Life Sciences 2004 program.
Cellular testing co NexPerience raises $6.7m
The company develops testing solutions for cellular applications.
Batya Feldman, Globes[online] (19 Sep 2007) NexPerience Ltd. has announced the closing of its first financing round, in which
it raised $6.65 million in two stages. In April it raised $4 million from Carmel
Ventures, which has supported the company since it was founded, and it has now
raised a further $2.9 million from Vertex Venture Capital. NexPerience was founded
in 2006 by CTO Yoram Mizrachi, VP sales Jacky Allal, and CEO Eran Yaniv, formerly
of Comverse Technology Inc. (Pink Sheets: CMVT.PK) and Exalink. The company,
which aims to offer a new approach to testing and monitoring cellular handsets
and applications, is developing a fully automated solution for testing and monitoring
applications installed on cellular handsets. •
On Track unit opens new plant in Germany
CEO Oded Bashan: We have increased our production capacity and improved our processes and standards to meet and exceed the quality requirements of our customers.
Globes correspondent (18 Sep 2007) OTI - On Track Innovations (Nasdaq: OTIV; Prime Standard: OT5) subsidiary InterCard Systemelectronic has opened a new manufacturing facility in Bad Durrheim in Germany. The company announced that the facility was inaugurated on September 7, in the presence of the mayor of Bad Durrheim. On Track produces contactless microprocessor-based smart card payment and security solutions.
•
Maayan Ventures to collaborate with China’s SIP
The incubator’s portfolio companies will be exposed to activity in
China through the industrial park.
Batya Feldman, Globes[online] (5 Sep 2007) Maayan Ventures Ltd. (TASE:MAYN)
has signed an memorandum of understanding (MOU) to collaborate with the Suzhou
Suqian Industrial Park (SIP), a joint project of the Chinese and Singaporean
governments. A delegation from the industrial park visited Israel a few days
ago. The delegation was shown Israel’s network of incubators and how they work
with portfolio start-ups. The MOU states that Maayan Ventures and SIP will
exchange information with the aim of exposing the portfolio companies of
Maayan and its affiliated incubators, Am-Shav Technological Applied Development
Center in Sde Boker, Rotem Ventures Ltd. (formerly ATC) in Dimona, to possible
activity in China.
•
Hexagon buys Israeli 3D optics start-up CogniTens
CogniTens develops measurement tools for industry and will have an estimated
$8 million in sales for 2007.
Batya Feldman, Globes[online] (4 Sep 2007)
Swedish technology group Hexagon AB (SWX: HEXN) has acquired Israeli industrial
device start-up CogniTens
Ltd. The two companies did not disclose the value
of the acquisition, although sources inform ''Globes'' that it was less than
$100 million.
CogniTens was founded in 1995 and, according to IVC Online, it has raised
a total of $39 million from Pitango Venture Capital, Vertex Venture Capital,
Walden Israel, Israel Infinity Venture Capital, Morgan Stanley, and others.
•
August 2007
Kamada raises NIS 40m as options exercised; net loss grows
R&D costs rose as the plasma therapeutics development company as its
products move through clinical trials.
Yaniv Magal, Globes[online] (29 Aug 2007)
Biopharmaceutical development company Kamada
Ltd. (TASE: KMDA) has raised
NIS 40 million from the exercise of Series 1 warrants, which will expire
in another year. The company also published its financial report for the
second quarter of 2007 today.
NIS 15 million of the amount raised came from parties at interest. GlenRock
Israel, controlled by Leon Recanati, exercised warrants for NIS 8.3 million;
Kamada chairman Ralph Hahn, the company’s largest shareholder, exercised
warrants for NIS 4.3 million; and Excellence Investments Ltd. (TASE: EXCE)
exercised warrants for NIS 2.9 million.
•
Protein therapeutics co Medgenics looks to AIM IPO
The firm hopes to raise
capital to fund clinical trials for its anemia and hepatitis C treatments.
Gali
Weinreb, Globes[online] (August 23, 2007)
Sources inform ''Globes'' that Israeli protein
therapeutics start-up Medgenics
Inc. is planning an IPO on London’s Alternative
Investment Market (AIM). The offering will probably be held in September
or October. The company will apparently try to raise a few million dollars;
the value for the offering is not yet known. Medgenics has raised $18 million
to date from Aurum Ventures MKI Ltd., Koor Corporate Venture Capital, Israel
Angels Management LP, Alta Berkeley Venture Partners, Alta Partners, and
Venture Partners, private investor Itay Zandbank, and US investors whose
names have not been disclosed.
•
BrainStorm to meet FDA on Parkinson's trials
The company said it aims to be the first worldwide to win approval to conduct
trials using adult stem cells taken from patients.
Gali Weinreb, Globes[online] (August 22, 2007)
Biopharmaceutical company BrainStorm
Cell Therapeutics Ltd. (Bulletin Board:BCLI.OB)
has arranged a first meeting with the US Food and Drug Administration (FDA)
to coordinate clinical trials for its flagship product for the treatment
of Parkinson's disease. The company said it aims to be the first worldwide
to win approval to conduct trials using adult stem cells taken from patients.
BrainStorm has hired Dr. Andra E. Miller, director of cell and gene therapies
of the Biologics Consulting Group, Inc. as consultant to handle the company’s
negotiations with the FDA. •
In other news from Brainstorm Cell ...
Brainstorm Cell appoints Frenkel and Krueger to advisory board
Chaim Lebovits recently acquired control of Brainstorm Cell for $5 million and
has been appointed president of the company.
Gali Weinreb, Globes[online] (August 8, 2007)
Brainstorm Cell Therapeutics Ltd. (Bulletin Board:BCLI.OB) has appointed AIG
vice chairman Jacob Frenkel and Lehman Brothers vice-chairman Harvey Krueger
to its advisory board. Frenkel is a former governor of the Bank of Israel. Krueger
also serves on the boards of Hansard Global plc (LSE:HSD), Chaus Ralty LLC, Duff & Phelps,
and Delta Galil Industries Ltd. (Nasdaq: DELT; TASE: DELT). •
Hemostatic solutions co LifeBond raises $1.5m
GlenRock and the Zytelman Group of the US made the investment.
Gali Weinreb, Globes[online] (August 16, 2007)
Hemostatic solutions start-up LifeBond Ltd. has raised $1.5 million from GlenRock
Israel and the Zytelman Group of the US. The company is developing a hemostatic
bandage to stop bleeding during surgery or as a result of trauma, which will
reduce the need for transfusion. Proceeds from the financing round will be used
for a preclinical feasibility study of the product.
LifeBond CEO Ishay Attar,
Orahn Preiss-Bloom, and Nir Mashkif founded the company. Attar previously served
as VP of Misgav Technology Center. David Haselkorn has been appointed chairman
of the company following the round. Haselkorn previously served as CEO of Clal
Biotechnology Industries Ltd. (TASE: CBI) and Savient Pharmaceuticals Inc. (Nasdaq:
SVNT). • Ishay Attar was formerly the VP business development of the Misgav
Venture Accelerator.
Israel's TIF Ventures acquires 2 incubators
Investors include Yorkville Advisors and Lachman Goldman Ventures of the US.
Gali Weinreb, Globes[online] (August 16, 2007)
New Israeli investment company TIF Ventures has lead the acquisition of Misgav
Technology Center and Mofet B’Yehuda Innovation Accelerator for $6 million,
and will receive the incubators’ holdings in their portfolio companies.
TIF will also receive the right to operate the incubators and accept new companies
for which the government will provide grants of 80% of financing for two years.
TIF Ventures has no connection with Singapore’s TIF Ventures pte Ltd.,
which has made investments in Israeli companies. TIF Ventures was founded by
a group of Israeli investors led by Trendlines International Ltd. co-founders
and chairmen Steve Rhodes and D. Todd Dollinger, and Adv. Ehud Huberman.
Yorkville Advisors LLC and Lachman Goldman Ventures of the US have invested
in TIF. Yorkville Advisors has $800 million in assets managed, and invests
in small companies in the healthcare industry and other sectors. This is the
company’s first investment in Israel, after making the strategic decision
to invest in Israel a few months ago. The company is considering investing
$8 million in a Misgav portfolio company, and is interested in two others.
Two
Israeli families each invested $1 million in the acquisition of the two incubators,
and Trendlines invested $500,000.
Misgav specializes in medical
devices, pharmaceuticals, and biotechnology. It has 11 active companies and
12 graduate companies, including ETview Ltd. and Dune Medical Devices Ltd..
The incubator’s companies raised an aggregate
$12 million during 2006.
Mofet B’Yehuda specializes in cleantech, software,
and medical devices. The incubator has seven active companies, including eBIZ.mobility
Ltd., which recently raised $1 million. • See other news about T.I.F. Ventures. Bagir Opens Store in Japan
Brenner Thomas, DNR (August 13, 2007)
TOKYO — Bagir, the
Israeli clothing company that markets itself as a maker of innovative, performance-driven
suits, has opened a concept store in tech-savvy Tokyo. The 915-square-foot store,
which marks the first time Bagir branded apparel has been sold outside of Israel,
bowed last month in the city’s
Roppongi district.
He’s hoping the Japanese market will embrace Bagir suits, which feature
featherweight, active-stretch and machine-washable fabrics. The company also
offers designs, including MusicStyle, which has an iPod-equipped blazer, and
another suit whose sleeve pocket is designed to accommodate Tokyo’s scannable
subway cards. •
Dorot expands overseas operations
‘Garlic & Herbs Dorot’ announces plan for US subsidiary on
East Coast. Company expected to be fully operational within months
Ynetnews.com, (August 10, 2007)
The Board of Directors of “Garlic & Herbs Dorot”,
Kibbutz Dorot, has announced plans to establish a subsidiary in the United
States.
The company will be involved with the importing of garlic and herbs
from Israel, logistical management, marketing activities, and sales throughout
the US.
Oded Barish, President and CEO of “Garlic & Herbs Dorot”,
stated that Dorot's products are currently sold in over 1500 retail outlets
throughout the US in addition to restaurants, hotels & other institutions.
Dorot is now actively searching for
a manager and suitable premises on the East Coast and the subsidiary
is expected to be fully operational within the next few months. •
Medis unit Cell Kinetics files rights offering
Cell Kinetics intends to commercialize Medis’s CellScan technology
and invest in medical device start-ups.
Gitit Pincas, Globes[online] (August 7, 2007)
Medis Technologies Ltd. (Nasdaq: MDTL) subsidiary Cell Kinetics Ltd. has
filed a registration statement on Form F-1 with the US Securities and Exchange
Commission (SEC) for a fixed price rights offering. Cell Kinetics intends
to commercialize Medis' CellScan cell carrier and related technology. Cell
Kinetics also intends to source, vet and invest in early stage Israeli-based
medical device companies.
Cell Kinetics plans to distribute to Medis' shareholders, at no cost, nontransferable
subscription rights to purchase up to an aggregate of 3.5 million of Cell
Kinetics' ordinary shares, at $0.30 per share. •
Maayan Ventures pursues consolidation agenda
Maayan has acquired an additional 22% of Capital Point, and plans to replace
its CEO and two directors with its own appointees.
Gali Weinreb, Globes[online] (August 2, 2007) Maayan Ventures
Ltd. (TASE:MAYN) has
taken another step in its takeover of Capital Point Ltd. (TASE:CPTP). Maayan
bought another 22% of Capital Point, adding to its 24.9% stake acquired a
month ago, and summoned a shareholders’ meeting to replace Capital
Point’s directors with Maayan’s appointees.
Maayan’s takeover of Capital Point consolidates the company’s
control of the technology incubators in southern Israel, and makes it a dominant
force in the Technical Incubators Program. The company now controls Ofakim
Hi-Tech Ventures, Am-Shav Technological Applied Development Center in Sde
Boker, Rotem Ventures Ltd. (formerly ATC) in Dimona, and the Maayan Incubator
in Beersheva, as well as Meytag Technology Incubator in Katzrin on the Golan
Heights. •
Hebrew U.'s Yissum teams with Neocrine Biosciences
Neocrine Biosciences Inc. will develop valnoctamide, which has potential for
treating neurological and psychiatric disorders discovered at Hebrew University.
Gali Weinreb, Globes[online] (August 1, 2007) Yissum Technology
Transfer Company of the Hebrew University of Jerusalem
has signed a worldwide licensing agreement for the development of valnoctamide
stereoisomers with Neocrine Biosciences Inc. (Nasdaq:NBIX). Valnoctamide and
its individual stereoisomers have been shown to be active in a number of preclinical
models and have the potential to treat epilepsy, bipolar disease and neuropathic
pain. The parent compound is a uniform combination of four valnoctamide stereoisomers,
which has been marketed as an anxiolytic in several European countries. •
July 2007
Visual Meaning Unveils New Website
Janet Gino, Ph.D., a visual language researcher and consultant, and founder
of Visual Meaning, recently unveiled her new website, Visual
Meaning. Her groundbreaking research examines the range
of visual literacies different sectors of the population use when designing
information. She works with companies, governments, non-profits, and other
organizations. •
Johnson & Johnson to distribute Topspin catheters
in Israel
Johnson & Johnson will also contribute to the financing of clinical
trials of Topspin's product.
Gali Weinreb, Globes[online] (July 30, 2007) Topspin
Medical Inc. (TASE:TOPMD) has signed
an exclusive, three-year agreement with Johnson & Johnson Israel for
the distribution of its IntraVascular MRI catheter . The company did not
disclose the size of the deal. Johnson & Johnson (NYSE: JNJ), which
is one of Topspin's investors, has undertaken to market the product, and
will also contribute to the financing of further clinical trials to test
its long-term efficacy and the affect it has on decisions regarding treatment.
Topspin's device, which recently obtained EU CE Mark marketing approval,
is a MRI device connected to a catheter, which enables blood vessels to
be analyzed for risk of possible rupture. •
dsIT wins NIS 30m Israel Navy submarine training contract
The company will supply a tactical training system for Dolphin submarine
crews.
Shmulik Shelah, Globes[online] (July 24, 2007)
Acorn Factor Inc. (Bulletin Board:ACFN.OB) subsidiary dsIT
Ltd. has won
a NIS 30 million Israel Navy contract to supply a tactical training system
for Dolphin submarine crews.
The system is for the three Dolphin submarines that Germany built for the
Israel Navy in the late 1990s. The training system will simulate the submarines’ sonar
and weapons systems in tactical conditions resembling those found at sea.
The company’s Naval Solutions Division has been working with the
Israel Navy for many years. • dsIT was a MarketReach
America ICET 2004 participating company.
Israel's Immunarray develops simple early-stage blood test for lung cancer
Nicky Blackburn, Israel21c (July 21, 2007)
The I-Chip is a small disposable microarray that looks much like the chips
used by the electronic industry, but contains biological molecules instead
of circuitry.
Dr. Eli Sahar, CEO of Immunarray, makes no bones about it. "Lung cancer
is one of the most lethal cancers," he
says. The second most common cancer in terms of annual incidence, it has a five-year
survival rate of just 15%. When you consider that there are 1.25 million
new cases of lung cancer diagnosed every year worldwide, and 175,000 in
the US alone, you get a picture of just how devastating this illness can
be.
Immunarray could help alter these figures. The small eight-man
start-up is working on a simple new and inexpensive blood test, called
the I-Chip, which promises to diagnose lung cancer, and a host of other
diseases, even at the earliest stages. The impact of this could be profound.
When lung cancer is diagnosed at an early stage, surgical treatment increases
the five-year survival rate to over 90%. •
Kamada completes factory upgrade to FDA,
EMEA standards
The company invested NIS 23 million in the Beit Kama factory upgrade.
Gali Wienreb, Globes[online] (July 16, 2007) Kamada Ltd. (TASE:
KMDA) has completed the upgrade of its factory at Beit Kama to comply
with US Food and Drug Administration (FDA) and European Medicines Agency
(EMEA) Good Manufacture Practice (GMP) standards at a cost of NIS 23
million. The factory will therefore be able to produce drugs for the
company’s clinical trials, and later, assuming the trials
are successful, for marketing.
Kamada is undergoing a change in strategy, which includes registering
some of its products with the highest added value for marketing in
both Europe and the US, where the sale price will be higher. Until
now, the company has marketed its products in many countries, but not
in the US or EU member states. •
Baxter in talks to buy Kamada for $150-200m If a deal is reached, it will initially involve R&D cooperation, and
Baxter will obtain some rights to Kamada’s API drug for treating
lung diseases.
Gali Weinreb and Roy Meltzer, Globes[online] (July 9, 2007)
Sources inform ''Globes'' that Kamada Ltd. (TASE:
KMDA) is conducting advanced negotiations with Baxter International
Inc. (NYSE:BAX), which include a possible sale of the company at a
value of $150-200 million. If a deal is reached, it will include two
stages. •
15 Israeli biomed cos at Johns Hopkins conference
The MarketReach America conference aims to help Israeli biomedical
companies penetrate international markets.
Gali Weinreb, Globes[online] (July 12, 2007)
15 Israeli biomedical companies
will attend the MarketReach
America conference, which Johns Hopkins
University will hold in Baltimore later this month. The conference is
being organized by the Maryland/Israel
Development Center and Trendlines International
Ltd. The conference is intended to help Israeli biomedical companies
penetrate international markets.
Participating companies include Rad BioMed Incubator, Lavi
Cardiovascular Ltd., NanoVibronix Inc., Pro-IV Ltd., and Immunovative
Therapies Ltd., which is based at Misgav Technology Center (owned
by Trendlines).
Maryland Governor Martin
O’Malley and Israel Ambassador to the
US Sallai Meridor will also attend the conference. Maryland is
a center of the US life sciences industry, since the state is
the home of the Food and Drug Administration (FDA) and the National
Institutes of Health (NIH). •
Kamada’s API wins EMEA OK for cystic fibrosis
trial
Last week, the EMEA approved the drug for Phase II and III trials
to treat congenital emphysema.
Gali Wienreb, Globes[online] (July 8, 2007) Kamada Ltd. (TASE:
KMDA) has obtained European Medicines Agency (EMEA) approval for
Phase II clinical trials of the company’s company’s
flagship product, an inhalable Alpha-1 Antitrypsin (AAT) drug Alpha-1
Proteinase Inhibitor (API) for the treatment of cystic fibrosis.
Last week, the EMEA approved the drug for Phase II and III trials
to treat congenital emphysema. This is a very rare disease affecting
5,500 persons worldwide. Cystic fibrosis is known to affect 70,000
persons, and the actual number is probably much higher. •
Kamada flagship product gets Phase II and III trials go-ahead
The EMEA approved the company’s inhalable API for the treatment
of congenital emphysema.
Gali Wienreb, Globes[online] (July 3, 2007)
The European Medicines Agency (EMEA) has approved Kamada Ltd.'s (TASE:
KMDA) protocols for the final two trials for the company’s
flagship product, an inhalable Alpha-1 Antitrypsin (AAT) drug Alpha-1
Proteinase Inhibitor (API) for the treatment of congenital emphysema.
June 2007
Maayan Ventures buys 25% of Capital Point
Capital Point owns Ofakim Hi-Tech Ventures and Meytag Technology Incubator, giving
Maayan Ventures five incubators.
Batya Feldman and Gali Weinreb, Globes[online]
(June 27, 2007) Maayan
Ventures Ltd. (TASE: MAYN) has acquired 24.9% of Capital Point Ltd. (TASE:CPTP),
which owns Meytag Technology Incubator in Katzrin on the Golan Heights and the
Ofakim Hi-Tech Ventures Ltd. in the Negev, in an off-floor deal. Maayan owns
Amshav technology Innovation Center in Sde Boker, Rotem Ventures Ltd. (formerly
ATC) in Dimona, and the Maayan Incubator in Beersheva.
Maayan Ventures bought
the Capital Point shares from five private parties at a premium of 15.9% over
the company’s market price. Maayan Ventures plans to make an offer to purchase
for the rest Capital Point’s shares and delist the company. If the offer succeeds,
Maayan Ventures will own almost all of the technology incubators in the south,
with only Xenia Capital Venture Ltd. (TASE:XENA) in Kiryat Gat outside its control. •
Laurus converts B.O.S. debt to equity
The conversion price was slightly lower than the market price.
Shiri Habib, Globes[online]
(June 25, 2007)
Business software developer BOS
Better Online Solutions Ltd. (Nasdaq: BOSC; TASE:BOSC) is cleaning up its
balance sheet. Last Thursday the company announced that Laurus Master Fund
Ltd. had converted $2.223 million in bonds into 878,670 shares at a price of
$2.53 each. The conversion price was slightly lower than B.O.S.'s share price
on the market. The company's shares closed at $2.62 on the day before the announcement,
rising by 3% to $2.70 after the announcement was released, to give it a market
cap of $18 million.
•
Espro mulls TASE offering
The multilingual audio systems company currently trades
on London's PLUS stock exchange.
Tali Tsipori, Globes[online] (June 21, 2007) Espro Information
Technologies Ltd., a developer of multilingual
audio training systems for tourist attractions such as museums, visitor centers,
art galleries or exhibitions, announced today that it is to file a draft prospectus
for an offering on the Tel Aviv Stock Exchange (TASE). The company first floated
on London's PLUS market during 2004, and after trading on low volumes, it later
considered moving its listing to London’s Alternative Investment Market (AIM).
It ultimately abandoned this plan, preferring a listing on the TASE instead.
Espro currently has a market cap of $14 million. •
Rabintex unit wins US order
The company's US subsidiary has won a follow-on order
worth $15.3 million.
Michal Yoshai, Globes[online] (June 21, 2007) Rabintex Industries
Ltd.(TASE: RABN) said today that its US subsidiary, Burtek Inc, has received
a follow-on order worth $15.3 million for its products to a US customer, most
of which will be delivered through 2007. The order, which comes less than a month
after a previous one worth $11.6 million, has increased the company's orders
backlog for 2007, and will be reflected in its revenue for this year. •
Red Herring and IVA to choose Israel's most promising start-ups
The technology magazine will hold an awards ceremony for Israeli companies.
Gali Weinreb and Shmulik Shelah, Globes[online] (June 6, 2007) Multi-Gene Vascular Systems (MGVS) was named as one of the finalists for 2007.
MGVS develops gene and cell therapy products to address a number of vascular-related disorders. The technology is based on using the patient’s own blood cells, (endothelium), and inserting a number of genes using a genetic engineering process. The company’s first two products are designed for patients suffering from diseases in their cardiac and leg vascular systems. • MGVS was one of the participating companies in the MarketReach
America Life Sciences 2004 program.
May 2007
Rabintex unit wins $11.6m US order
Deliveries will be made during this year. The new order boosts the company’s
backlog to NIS 300 million for 2007.
Erez Wollberg, Globes[online] (May 31, 2007)
Vehicle and infantry armor manufacturer Rabintex Industries Ltd.’s (TASE: RABN) US subsidiary Burtek Inc. has won a $11.6 million order from a US customer. Deliveries will be made during this year. The new order boosts the company’s backlog to NIS 300 million for 2007. •
MentorWave closes second
financing round
The company raised investment from Ofer High Tech and Docor Investment.
Shmulik Shelah, Globes[online] (May 28, 2007) MentorWave Technologies
(MWT) Ltd., a developer of interactive visualization solutions has closed
a further financing round, raising $3 million from its existing investors, Ofer
Hi Tech Ltd., and Docor International Management Ltd.. The company has raised
some $3.5 million to date in two financing rounds. •
IBI bullish on Kamada
The investment house revised its recommendation after the company announced
the completion of Phase I trials of its inhaler for the treatment of AAT
deficiency.
Gali Weinreb, Globes[online] (May 27, 2007)
IBI Investment House Ltd. has published an update on Kamada
Ltd. (TASE: KMDA), in which it raised its rating to "Buy" from "Neutral" and
its target price to NIS 40 from NIS 31.50. The bullish recommendation follows
Kamada's announcement of May 20, that it had successfully completed Phase
I safety trials for its Alpha-1-Antitrypsin IV inhaler for the treatment
of AAT Deficiency. The product, which the company has registered for use
in the treatment of AAT, a genetic condition also known as congenital emphysema,
is a strategic product for the company and if marketed, it will be Kamada's
only product that does not face direct competition and it will be awarded
orphan drug status. •
April 2007
OTI wins Kenya contract for MediSmart card
Smart Applications International has ordered 100,000 cards and 200 service points.
Erez Wollberg, Globes[online] (April 25, 2007) OTI - On Track Innovations Ltd. (Nasdaq: OTIV; DAX: OT5) has won an order for 100,000 contactless MediSmart medical smart cards from Kenya’s Smart Applications International Ltd. Smart also commissioned almost 200 points of service at hospitals, pharmacies and general practitioner sites across Kenya, enabling patient authentication, verification of benefits and claims processing in a seamless process. Contactless smart cards have already been issued by a number of medical scheme managers as part of the program. •
Maayan Ventures acquires 45% of waste water treatment co
The company, in which Maayan has invested NIS 2.5 million, will be called Maigor.
Merav Ankori, Globes[online] (April 18, 2007)
Technology incubator Maayan
Ventures Ltd. (TASE:MAYN) will invest NIS 2.5 million in a new start-up,
to be called Maigor, which will focus on waste water treatment, in exchange for
a 45% fully diluted stake in the company. Maayan received approval from the Chief
Scientist to operate the venture under the auspices of one of its three R&D
arms, the Dimona incubator. Maigor is developing a biological system for purification
of domestic wastewater and industrial wastewater, using a wide variety of bacteria,
which grows on unique bedding that is ecologically-balanced with the contamination
system. •
These Israeli boots are made for... treating peripheral vascular
disorders
David Brinn, Israel21c (April 15, 2007)
Israeli device designed to restore upright mobility
Novel Israeli-made therapeutic devices for the treatment of chronic venous
insufficiency (CVI), deep vein thrombosis (DVT) prevention, venous ulcers,
lymphoedema, and other conditions are soon going to be available throughout
the US.
American wound and skin care manufacturer and supplier Derma Sciences, Inc. has
obtained a licensing agreement with C-Boot, an Israeli medical biosystems
company, for the marketing, sales and distribution rights of C-Boot's patented
devices which also treat conditions that require compression therapy, including
the enhancement of blood circulation during recovery from coronary artery
bypass graft surgery and orthopedic hip and knee replacements. •
TopSpin Medical teams with US co on cancer screening
The company
will test the ultrasound scanning technology of US company 3G Ultrasound.
Globes[online], (April 15, 2007)
Medical device company Topspin
Medical Inc. (TASE:TOPMD), has announced that it is to collaborate with
US ultrasound technology company 3G Ultrasound Inc. which has developed a
scanning method for imaging the prostate gland. 3G Ultrasound will provide
TopSpin with its prostate ultrasound imaging system on loan for a period
of 12 months for research purposes, with the aim of integrating it in TopSpin's
MRI system for the diagnosis and staging of cancerous growths. •
Top Image Systems buys UK co
The company acquired Capture Projects for £1.8 million.
Shiri Habib, Globes[online] (April 11, 2007) Top Image Systems Ltd. (Nasdaq: TISA; TASE:TISA) has acquired Capture Projects
Ltd., a UK provider of document management solutions, for £1.8 million,
and potential performance-based consideration.
Top Image develops solutions for managing and validating content entering
organizations from various sources, and provides software solutions for data
capture, identification and storage in databases. Capture Projects should
help Top Image strengthen its position in the European market; its current
main markets are the US and Japan. The acquisition will also expand the company’s
basket of products for both new and existing customers. •
March 2007
J&B Software to market Top Image’s
eFLOW
J&B Software COO Robert Bartlett: Top Image’s solutions will greatly
complement our product offerings and allow us to expand our market reach.
Adi Ben-Israel, Globes[online] (March 29, 2007) Top Image Systems
Ltd. (Nasdaq: TISA; TASE:TISA) has signed a cooperation
agreement with J&B Software Inc., a provider of enterprise-wide payment
system solutions and integration services. J&B Software will provide
Top Image’s eFLOW document capture solution, to its customers in the
transaction processing and financial services industries. •
Dr. Gary Applebaum Joins Nobska Ventures
(Company newsletter, March 23, 2007)
Nobska Ventures is very pleased to welcome Dr. Gary Applebaum as an
investor and Member of the General Partner of Nobska Venture Partners
I, L.P. Dr. Applebaum will serve as a Director of the fund, particularly
focusing on Nobska Ventures’ investments in early stage healthcare
and informatics companies in Israel and the Mid-Atlantic regions.
Nobska Ventures invests in early stage,
advanced information and communication Technology companies based in
Israel and the Mid-Atlantic region. • Dr. Applebaum was a featured speaker at our MarketReach
America Life Sciences & Medical Devices 2007 seminar on medical reimbursement in
Tel Aviv in January.
Radioactive waste company plans
IPO
Gwen Ackerman, Bloomberg (March 18, 2007) Environmental Energy
Resources Ltd., the Ramat Gan-based municipal waste company,
plans to sell shares to the public by the end of 2008 at a company valuation
of about $500 million.
The company uses technology that reduces waste to 4 percent of its original volume.
The process transforms waste into black glass that looks like volcanic rock and
can be used as a base for asphalt roads. The company's waste-reducing technology
gives off steam as a by-product that can then be channeled and sold as an energy
source. •
Rabintex returns to profit
The company’s orders backlog tripled to NIS 133 million at the end
of 2006, most of which is due for delivery during the first half of 2007.
Adi Ben-Israel, Globes[online] (March 12, 2007)
Composite ballistic armor maker Rabintex Industries Ltd. (TASE: RABN) today
published its results for the fourth quarter of 2006 and the year as a
whole. The company would no doubt like to put behind it a year that saw
a plunge in sales and net loss.
2006 revenue fell 24% from 2005 to NIS 140 million, resulting in a net
loss of NIS 3.3 million, compared with a net profit of NIS 22.9 million
in 2005. Gross profit plummeted 65% to NIS 23.2 million. •
Top Image to collaborate with ARX
Top Image Systems will offer its eFLOW solution and ARX its CoSign solution.
Adi Ben-Israel, Globes[online] (March 7, 2007) Top
Image Systems Ltd. (Nasdaq: TISA; TASE:TISA) and digital signatures
data security solutions developer ARX (Algorithmic Research) will collaborate
on technology and sales to help customers worldwide manage information
more efficiently. Top Image Systems will offer its eFLOW solution and ARX
its CoSign solution.
ARX CEO Gadi Aharoni said, "Customers can further improve financial
operations, and simplify, seal, secure, and accelerate their transactions
using our joint offering." •
OTI boosts revenue, narrows loss
OTI CEO
Oded Bashan predicted 20-25% growth in 2007.
Globes[online] (6 Mar
07) OTI - On Track Innovations Ltd. (Nasdaq: OTIV; DAX: OT5) today
published its financial reports for the fourth quarter of 2006 and the
year as a whole. OTI develops contactless smart card solutions for homeland
security, petroleum payments and other applications. The company posted
$13.2 million revenue for the fourth quarter, 42% more than the $9.3 million
for the corresponding quarter of 2005. Net loss on a GAAP basis was $300,000
($0.02 per share) for the fourth quarter, compared with $2.3 million ($0.22
per share) for the corresponding quarter. •
GammaCan Raises $6.5 Million
(BioIsrael, March 2007)
GammaCan International, Inc. a developer of novel
immunotherapies to treat cancer, has completed a $6.5 million private placement
with a group of investors lead by T.R. Winston & Company, LLC. The
Company issued 16,250,000 common shares at a price of $0.40 per share,
and warrants equal to the amount of shares issued, exercisable at $0.48.
GammaCan's
platform technology is based on IgGs, a safe, relatively non-toxic human
plasma-based product used to treat a variety of immune deficiencies and
autoimmune diseases. In cancer, IgG-based therapies work by strengthening
the patient`s immune system. •
Immunovative Therapies Raises $.5 M
(BioIsrael and Globes[online]) Immunovative
Therapies, a start-up that is developing
a biopharmaceutical that activates the immune system to fight cancer, has completed
an additional round of investments, raising $0.5 million from private investors.
The deal values the company at $17 million (before the infusion of capital).
Read the Globes article. • Immunovative is one of the Misgav
Technology Center portfolio companies.
BrainStorm Stem Cell Study in Primates for Parkinson`s
Disease (BioIsrael, March 2007) BrainStorm
Cell Therapeutics (OTCBB: BCLI) has initiated a safety trial using an animal
model of Parkinson`s disease in primates. The study utilizes BrainStorm`s adult
stem cell technology which has shown efficacy in animal models of Parkinson`s
Disease in previous pre-clinical trials. In those studies, human-bone-marrow-derived
stem cells were differentiated into astrocyte-like cells (supporting cells )
and transplanted into mice and rats brains. The engrafted cells survived, kept
their function and significantly improved the motor symptoms of Parkinson`s Disease
animal models over a long period of time. •
First Patient Treated With MultiGeneAngio
Novel Therapy for Blocked Arteries
(BioIsrael, March 2007)
Last month at a Michigan hospital, a middle-aged American
man, with blocked arteries in his leg that could lead to leg amputation,
became the first patient to be treated with a new form of cell therapy that
could restore mobility to him and to hundreds of thousands of people
suffering from blocked arteries.
"He had deteriorated to the point where
he couldn`t walk for more than five minutes and because the arterial
blockage in his leg was diffuse, therapies like a balloon or surgery
couldn't help him," explains Dr. Moshe Flugelman, a cardiologist
and the inventor of the new therapy. "Inevitably gangrene sets in
and we have no choice but to amputate," he says, noting that in
the United States alone close to 70,000 amputations are performed each
year as a result of blocked arteries.
The novel therapy,
known as MultiGeneAngio (MGA) was developed by MultiGene Vascular
Systems Ltd. (MGVS) of Haifa, a company founded by Dr. Flugelman and
Dr. Basil Lewis in 2000. The technology is named after the conceptual
breakthrough that it represents – the use of more than a single
gene and cell type.
The procedure harnesses cells taken from the patient's
own body, processing them in a lab and then injecting them back into
the patient. The empowered cells are designed to trigger a process of
angiogenesis whereby small arteries become bigger, enabling a higher
blood flow to the leg. The same therapy can be used to improve blood
supply to the heart muscle in patients with blocked coronary arteries. • MGVS was one of the participating companies in the MarketReach America
Life Sciences 2004 program.
February 2007
Kamada begins Phase III trial of injected API
API is designed
to treat inborn deficiency of Alpha-1 proteinase inhibitor, which may lead
to emphysema.
Gali Weinreb, Globes[online] (February 28, 2007)
Biopharmaceutical development company
Kamada Ltd. (TASE: KMDA) has begun Phase
III human clinical trials of its injectable Alpha-1 proteinase inhibitor
(API) for the US Food and Drug Administration (FDA). The
company’s molecules are based on human
plasma.
API is a super-generic, i.e. a generic drug based on molecules whose
patents have
expired, or which have had an upgrade in the
formulation or delivery system that make it unique. API is based on a
known drug, but Kamada’s product can be injected immediately, whereas
existing drugs must be first mixed with other compounds before use, which
renders them inconvenient to use. •
Rabintex wins $4.5m US military order
The company’s US subsidiary
has received final approval as a licensed supplier of helmets to the US Army.
Amir
Keidan, Globes[online] (February 26, 2007) Rabintex
Industries Ltd. (TASE: RABN) announced that it won a first order
in a US Army tender through its US subsidiary, Rabintex USA LLC, of which
it owns 50%. Rabintex’s
subsidiary won an order worth $4.5 million for the manufacture of advanced
helmets for the US Army, which it will deliver through 2007. •
Ultrasound's new dimension New medical device
start-up Helix has developed a scanning device that could revolutionize breast
cancer diagnosis.
Gali Weinreb and Hanan Lifshitz, Globes[online] (February 26, 2007)
When talking about the heavy price paid by the families of start-up entrepreneurs,
one would not typically imagine the following scene: “I wanted to know
if the product would work so I asked my wife to bare one of her breasts. I took
an empty Coca Cola bottle, and cut it in two so that I was left with the piece
with the spout at the end. I placed my wife’s breast in the cup with the
spout, and then I held the pipe of a vacuum cleaner to the other side of the
bottle opening. Believe it or not, the breast was sucked into the spout. So I
called my daughter to come quick and take a photograph. She said, “Dad,
you’re crazy.”
The empty Coca Cola bottle and the vacuum cleaner were the first feasibility
test for part of the technology now being developed by Meytav Technological Enterprises
Innovation Center Ltd. incubator company Helix
Medical Systems Ltd. The creative
individual who carried out the above test is company founder and CEO Arie Amara.
Helix’s product is designed to improve ultrasound scanning of the breast,
usually the second stage in the process of testing for cancer after detecting
initial signs through a mammography or self examination. •
IDesia to develop product for Aladdin
IDesia is developing a biometric verification
solution for end devices.
Amir
Keidan, Globes[online] (February 21, 2007)
Caesarea-based start-up IDesia
Ltd. has signed
a $1 million contract with Aladdin
Knowledge Systems Ltd. (Nasdaq: ALDN;
TASE: ALDN) to develop the first product based on IDesia’s technology.
IDesia
chairman and CEO Baruch Levanon, CTO Dr. Daniel Lange, and VP business
development Yosef Gross founded the company in 2004. It has 12 employees.
In January, it raised $2.5 million, bringing the total amount raised to
date to $4.25 million. •
Top Image to supply eFlow solution to Diaego
The contract is worth $250,000.
Adi Ben-Israel, Globes[online] (February 21, 2007) Top Image Systems Ltd. (Nasdaq: TISA; TASE:TISA) will sell its eFLOW solution
to Diaego to process invoices and streamline the information into its SAP system.
The contract is worth $250,000.
Diaego has 20,000 employees in 80 countries. Its brands include These brands
include: Smirnoff, Johnnie Walker, Guinness, Baileys, J&B, Captain Morgan, Cuervo,
Tanqueray and Crown Royal as well as Beaulieu Vineyard and Sterling Vineyards
wines. •
Insulin pump co NiliMedix gets NIS 1m from Chief Scientist
D Medical also invested
NIS 1.6 million in NiliMedix, increasing its stake to 80.5%.
Gali Weinreb, Globes[online] (February 20, 2007)
D Medical Industries Ltd. (TASE:DMDC) subsidiary
NiliMedix Ltd. has
obtained NIS 1 million from the Office of the Chief Scientist to help finance
development of the company’s mechanical insulin pump.
D Medical, which recently raised
NIS 16 million on the TASE, also invested NIS 1.6 million in NiliMedix, increasing
its stake from 70% to 80.5%. D Medical has also provided NIS 2.9 million in
five-year loans to another subsidiary, G-Sense Ltd., which is developing a
continuous glucose monitoring device. •
Janaury 2007
MGVS begins phase I trials of blood vessel therapy
The company is due to obtain FDA approval to begin Phase I trials of its second
treatment, MultiGeneAngio.
Gali Weinreb, Globes[online], (January 31, 2007)
Sources inform ''Globes'' that MGVS
- MultiGene Vascular Systems Ltd. has begun
Phase I human clinical trials of its MultiGeneGraf cell therapy for growing blood
vessels. The company is due to obtain US Food and Drug Administration (FDA)
approval to begin Phase I trials of its second treatment, MultiGeneAngio, for the
prevention of blockages in prosthetic blood vessels.
• MGVS was one of the participating companies in the MarketReach America
Life Sciences 2004 program.
BOS to supply RFID tags to European co
Market sources: The contract with Environmental Solutions Europe is worth up to $1 million.
Shiri Habib, Globes[online] (January 30, 2007) BOS Better Online Solutions
Ltd. (Nasdaq: BOSC; TASE:BOSC) subsidiary Odem Technologies 1992 Ltd. has
signed a contract Environmental Solutions Europe Holdings BV for the supply of
radio frequency identification (RFID) tags for tagging garbage bins and collection
containers. ESE is a major provider of waste management services in Europe. The
size of the contract was not disclosed, but market sources estimate it to be
worth up to $1 million. •
A new website for BrainSavers
(January 21, 2007) BrainSavers unveiled
their new website today. The company has developed a unique "total lifestyle
program" that combines diet and nutrition, memory enhancement, and physical
fitness. Dr. Paul Bendheim is the company's chairman and founder. •
A new website for DAY
(January 16, 2007) DAY Business Development
and Consulting Ltd. announced the recent update of its website. The Tel Aviv-based
company manages mergers and acquisitions and private placements, raises funds,
and represents Israeli companies internationally. •
BOS Better On-Line Solutions Appoints Eyal Cohen as
Chief Financial Officer (January 10, 2007)
BOS Better On-Line Solutions announced
that it has appointed Mr. Eyal Cohen as its new Chief Financial Officer,
effective January 2007. Mr. Cohen is a licensed CPA in Israel and in the
United States. Previously, Mr. Cohen served as BOS' controller and prior
to that held the position of Chief Financial Officer at Cellact. Mr. Cohen
replaces Mr. Nehemia Kaufman.
The company
also announced that it has decided to relocate its headquarters to
Rishon Lezion, in the center of Israel. In addition the company
will move its manufacturing and development facilities from Teradyon to
the city of Yoqneam, in the North of Israel. •
Perrigo positioning itself to buy delisted Taro
Yoram Gavison, Globes[online] (January 9, 2007)
The American drug company Perrigo, which is dual-listed in Tel Aviv since
buying Israel's Agis Industries, is one of the contenders to buy another
Israeli drug company: Taro Pharmaceutical Industries.
Taro makes generic versions of brand drugs, mainly
for skin conditions. It was put on the block after its stock was delisted
from Nasdaq on December 13, 2006, after failing to file its full financial
statement for the year 2005. The U.S. Securities and Exchange Commission
had given it several extensions to file its report, but it never did. •
Maayan Ventures buys Am-Shav incubator
Maayan now has stakes in four start-up management companies.
Gali Weinreb, Globes[online] (January 2, 2007) Maayan Ventures
Ltd. (TASE:MAYN) has acquired Am-Shav Technological Applied
Development Center in Sde Boker.
With this acquisition, Maayan now has stakes
in four start-up management companies: Maayan in Beersheva, Advanced Technologies
Center Ltd. (ATC) in Dimona, Am-Shav, and 14.5% of TechnoPlus Ventures Ltd.
(TASE:TNPV). •
