Gengrinovitch's Biosight raises an additional $27 million in Series C funding
For the second time in 2020, investors have provided capital to Biosight, Ltd., a pharmaceutical development company founded by Stela Gengrinovitch and whose CEO is Ruth Ben Yakar. After raising $19 million in Series C financing earlier this year, Biosight has closed the round by securing an additional $27 million. Investors in the round include Israel Biotech Fund, Phoenix Insurance Co., Migdal Insurance Co., Primera Capital, and Arkin Bio Ventures. Michael Ilan Management and Investment, Ltd., whose CEO is Liora Ettinger, is a prior investor. Liora is a member of Biosight’s board. Based in Airport City, Israel, Biosight is developing therapeutics for hematological malignancies and disorders. The new capital will advance the clinical development of the company’s lead asset which is being investigated in a Phase 2b study as a first-line treatment of acute myeloid leukemia. It was also granted Orphan Drug Designation by the FDA, which entitles it to seven years of market exclusivity. Stela, who founded Biosight in 2000, serves as the company’s chief scientist. Ruth joined Biosight as CEO in 2014 after serving as CEO of Procognia, a publicly traded biotech company. She also previously served as CEO of Thrombotech, which was acquired. https://www.biosight-pharma.com/.