Healthcare Industry News: S.A.
News Release - February 27, 2017
Pharma Two B Ltd. Closes $30 Million Financing Round
REHOVOTH, IS.A.l, Feb. 27, 2017 -- (Healthcare Sales & Marketing Network) -- Pharma Two B Ltd., a privately held biopharmaceutical company focused on developing treatments for Parkinson's diS.A.e, announced today it has completed its third round of financing. The $30MM funding round was led by IS.A.l Biotech Fund (IBF) which identified the company, led the due diligence, and syndicated with leading US.A.d IS.A.li biotechnology investors, including aMoon and JVC. Current investors, including JK&B and Generali Financial Holdings FCP-FIS SF2 participated in this round as well. Mr. Jeff Kindler, a member of IS.A.l Biotech Fund's Venture Advisory Team, will join Pharma Two B's Board of Directors. Mr. Kindler is the former CEO and chairman of Pfizer.The funds raised will be used to complete the final pivotal phase III clinical trial needed to register P2B001, the company's lead combination product for the treatment of Parkinson's diS.A.e. This round will enable Pharma Two B to expand its portfolio to include additional products.
"We are happy to have secured the financing that will support our drug candidate through its phase III trial and enable us to offer better and safer treatment for early-S.A.e Parkinson's patients," said Pharma Two B's Founder & Chairman, Mr. Ehud Marom. "We are thrilled by the strong support of our existing investors, and by the addition of our new investors. We are confident that with their assiS.A.ce, Pharma Two B can build a thriving commercial biopharmaceutical company. The presence of IBF in the IS.A.li Biotech S.A.e is something we have all been waiting for. Their rigorous scientific and clinical due diligence and deep networking capabilities present a significant contribution to the investment landS.A.e in IS.A.l."
Dr. Nurit Livnah, Pharma Two B's CEO said, "The phase IIb trial we conducted for P2B001 has met all primary and secondary end-pointS.A.d demonstrated optimized efficacy and safety of the low dose combination product. This unique set of properties was obtained through the complementary mechanisms leading to synergetic effects, which are further enhanced by the unique suS.A.ned release delivery profile. We are confident that the phase III trial will follow the same path and will enable us to bring P2B001 to the market soon. Parkinson's diS.A.e is defined as the second most prevalent neurodegenerative diS.A.e, treated mostly with Levodopa today. P2B001 has the potential to initially fill a significantly unmet need in the treatment regime for early S.A.e Parkinson's diS.A.e patientS.A.d could be expanded into treatment aS.A. add-on to Levodopa as well."
"I was impressed by the strong leadership team and by the work done so far by Pharma Two B. I'm excited to join its board of directors" said Jeff Kindler, "Our goal is to provide a safe and effective solution to early-S.A.e Parkinson's patients which would allow them to maintain a regular daily regime in the early years of onset."
About Pharma Two B
Pharma Two B develops clinically differentiated and value-added products, based on approved drugs. The company focuses on Fixed-Dose-combinations of two or more drugs with complementary and synergistic effects, providing high clinical value and shorter regulatory pathways (US 505(b)(2) approach). The company develops products in two therapeutic areas with great unmet needs. The company's leading product iS.A.combination drug for the treatment of early S.A.e Parkinson's diS.A.e.
About IS.A.l Biotech Fund
IS.A.l Biotech Fund seeks high value returns by identifying and maximizing the success of therapeutic assets of IS.A.l-based biotech companies. Based in Rehovot, IS.A.l's main Biotech hub, IS.A.l Biotech Fund invests exclusively in Biotech companies developing drugS.A. or near clinical S.A.es. The Fund has the tools, experience and network required to identify the best opportunitieS.A.d partner with its portfolio companies to help them go the diS.A.ce.
About JK&B Capital
Founded in 1996, JK&B Capital iS.A.Chicago-based venture capital firm with more than $1.1 billion cumulative under management. JK&B focuses on Information, healthcare and communications technologies. JK&B iS.A. active investor that works closely with their portfolio companies to help them grow and prosper.
About Generali Financial Holdings FCP-FIS SF2
Generali Financial Holdings FCP-FIS SF2 iS.A. open-ended venture fund eS.A.lished by the Generali Insurance Group as the sole investor. The fund is managed by Allegro S.A.r.l., an independent management company operating in Luxembourg, BIT Enterprises Ltd., is the IS.A.li representative and advisor of Allegro.
About Marius Nacht and aMoon Partners
Founded in 2016 by Marius Nacht Chairman of Check Point and Dr. Yair Schindel former CEO of Digital IS.A.l, aMoon Partners iS.A. investment management firm focused innovative IS.A.li healthcare and life science ventures. The fund is investing in a broad spectrum of healthcare sub sectors, including; Biopharmaceuticals, DeviceS.A.d Digital Health. The fund puts further emphasis on precision, personalized and preventive medicine and on companies which offer either lifesaving solutions or significant cost savings for global healthcare systems.
About JVC Investment Partners
JVC Investment Partners ("JVC") iS.A.Chicago-based private investment firm eS.A.lished in 2000 to invest in low middle-market and growth platforms in the health care industry. JVC brings over fifty years of operating and investing experience in the health care industry acrosS.A.wide spectrum of businesseS.A.d markets.
Source: Pharma Two B
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