Date: 2013-05-20
Type of information: Fundraising
Company: TheraCoat (Israel)
Investors: Pontifax (Israel) Chaim Hurvitz CHealth Fund (Israel) Ran Nussbaum
Amount: $7 million (€ 5.43 million)
Funding type: financing round
Planned used: The capital raised will be used for the ongoing R&D efforts, for clinical trials and commencing the marketing process of the company’s products. TheraCoat has recently received CE approval for marketing its hydrogel-based delivery system in Europe and is preparing to commence clinical trials in a number of urologic applications. The company focuses on three bladder indications – non-muscle invasive bladder and Urothelial cancer (NMIBC & UTUC) and overactive bladder (OAB). Current treatments utilizing intravesical drug instillations, however their efficiency is low: once a drug is delivered into the bladder, it is quickly diluted and excreted. TheraCoat’s novel drug delivery system effectively overcomes this drawback.
Others: TheraCoat, a clinical stage specialty pharmaceutical company focused on innovative drug-delivery solutions for the treatment of intra-cavital diseases, has successfully completed a capital raise of $7 million (€ 5.43 million) from private investors and venture Funds, both in Israel and abroad. Amongst the investors are Pontifax, and Chaim Hurvitz’s CHealth Fund. Mr. Hurvitz and Mr. Ran Nussbaum, a manager partner at Pontifax, have both joined the company’s board, chaired by Professor Arie Belldegrun MD FACS.
Therapeutic area: Cancer - Oncology - Urological diseases
