| Capital Point Ltd. (TASE:CPTP) today announced that start-up DermiPsor Ltd. has raised NIS 2.5 million in an internal financing round at a company value of NIS 37 million. A private investor invested NIS 2.1 million into DermiPsor and Capital Point, which owns 36% of the company, invested the rest.
Based in Meytag Technology Incubator, DermiPsor is developing an ointment for the treatment of psoriasis that does not include steroids. The company has raised NIS 7.8 million to date, including the present round.
The current investment will finance the completion of Stage II clinical trials for the US Food and Drug Administration (FDA), which were recently started. The trials will include 170 patients at five medical centers in Europe.
Capital Point said that the psoriasis treatment market totals $800 million a year, and will likely grow to $1.2 billion by 2009. 1-3% of people worldwide suffer from the disease, including 100,000-130,000 in Israel. 75% of patients are under the age of 40.
Published by Globes [online], Israel business news - www.globes.co.il - on February 11, 2007 |
