By Jennifer Chiou
New York, July 18 - Protalix Biotherapeutics Ltd. closed on a $5.3 million private placement of its series C preferred stock.
Investors included Tamares Capital, Docor International BV, Atara Technology Ventures Ltd., Biocell Ltd., Marathon Investments Ltd. and several private investors.
"We expect that Protalix will establish itself over the coming years as an innovative leader in a number of therapeutic areas, based on its unique capabilities to manufacture safe and efficacious recombinant proteins," Alon Dumanis, Docor chief executive officer and new board member of Protalix, said in a news release.
"In the last few years, Protalix has emerged as a recognized and promising biopharmaceutical company that has developed and patented a widely applicable expression platform - capable of manufacturing almost any human recombinant protein. This powerful capability is validated by the aggressive progress of the company's lead drug for the treatment of Gaucher's disease into clinical trials," Protalix chief executive officer David Aviezer said in the release.
"We will use the proceeds of this financing to advance our product through clinical studies, to aggressively develop our discovery programs and collaboration programs and to expand our technological platform and manufacturing capabilities."
Protalix Biotherapeutics, a Karmiel, Israel biotechnology company, has raised $10 million in financing during the past year.
| Issuer: | Protalix Biotherapeutics Ltd.
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| Issue: | Preferred stock
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| Amount: | $5.3 million
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| Round: | Series C
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| Investors: | Tamares Capital, Docor International BV, Atara Technology Ventures Ltd., Biocell Ltd., Marathon Investments Ltd., others
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| Announcement date: | July 18
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