RAD BIOMED’S AOPHARMA COMPLETES AN INVESTMENT ROUND OF US$2 MILLION
-- The financing round was led by Israeli venture capital firm Coronis Partners --
Tel – Aviv, Israel, May 2nd, 2010 – RAD BioMed, a leading success-accelerator for Israeli life science startups, today announced that its portfolio company AOPharma has successfully completed a $2 million investment round raised from investors including Coronis Partners – an Investment Company specialized in the Biotechnology sector, Mr. Gur Munzer, owner of Care Medical Services and of Natali and RAD BioMed Accelerator.
AOPharma CEO Dr. Eran Eilat said, "We are happy and proud to successfully complete this round of raising funds and to the list of respected investors which have expressed their faith and support in our technology, its business potential and the company's management."
He added that the ophthalmology market is growing and is worth more than $13 billion annually.
The company's first product, called AdMister Eye, is a medical device containing eye drops that administers precise amounts of drops and has a high level of absorption.
About RAD BioMed
RAD BioMed is a success-accelerator for Israeli life science startups. With state-of-the-art facilities, a team of entrepreneurial experts and broad contact networks, RAD BioMed incubates startups at various stages in the medical devices, biopharma and diagnostic sectors. The Tel-Aviv-based accelerator empowers innovation by ‘de-risking’ the start-up process and providing comprehensive support, including funding, mentoring and umbrella business development, marketing and administration services. RAD BioMed is the sole incubator in Israel to provide its portfolio companies with access to state-of-the-art biotechnology laboratories. RAD BioMed is owned by Yehuda Zisapel, President and Founder of the RAD Group, a world leader in voice and data communications technologies, and Professor Nava Zisapel, founder of Neurim Ltd., one of Israel’s leading BioPharma companies. RAD BioMed’s professional staff includes seasoned entrepreneurs and veteran professionals with broad experience in finance, medicine and biotechnology.