BioProtect’s solution has received a further boost in recent years as radiation therapy has begun to allow more intensive radiation therapy programs, including higher radiation doses per dose of radiation, so that treatment can be shortened and improved. However, due to the need for higher intensity radiation, the need to protect nearby organs also increased. The company believes that using its product can solve the dilemma and allow more patients to benefit from targeted treatment.
Since the establishment of BioProtect, a rival product of OGmanix, which was sold to Boston Scientific at the end of last year, has reached $ 600 million.
“We congratulate the company on the significant milestone in the funding round as well as the launch of the FDA trial,” said Chen Chengweiz, who led the current round of financing, adding: “We have supported BioProtect for a long time and are following its successes. The company also has an open, mature and growing commercial opportunity, as well as a long-term future for long-term products. “
“We appreciate the support of Vincent Chingweis in this important round, and I was pleased to discover that we share a vision for the company’s future in the immediate and long term.” It is difficult to find medical device companies that combine a clear and available business opportunity like our prostate market where there is an insurance reimbursement While at the same time leveraging the vast knowledge and intellectual property that Bioprotect can make in its very broad future product portfolio. “
BioProtect was founded in 2004 by Dr. Adrian Paz, Prof. Avi Domb, and Shaul Shochat, who today serves as a CTO and a member of the Board of Directors of the Company’s Zor Yigal Company, and raised approximately $ 12 million to this recruitment, The VILS Foundation to support Israeli life sciences companies operating in Virginia, the US investment fund AJSS and private investors, including Yigal Ahovi and Rafi Gidron.
The company was represented by Adv. Guy Gordon of Goldfarb Seligman and the investor was represented by Dana Yagur of the Meitar Liquornik firm.