The company is in the process of para-clinical trials of its cancer drug.
Biokine, developer of cancer treatment, mainly leukemia and myeloma, has raised NIS 2.5 million from Hadasit Bio Holdings Ltd. (TASE:HDST), Clal Biotechnology Industries Ltd. and Shmuel Cabilly, a private investor.
Biokine was founded in 2000 by Dr. Amnon Peled, a researcher at Haddassah Hospital and formerly a scientist at Millennium Pharmaceuticals Inc., who uncovered a receptor which is over-expressed in various types of cancer cells. Peled developed a molecule which attaches to the receptor and causes the cancer cells to die. He founded the company together with Dr. Lior Carmon, founder of Vaxil and former CEO of Ester Neurosciences Ltd. The company graduated from the Weizmann Institute incubator program in 2003. The company was funded by research grants and has so far received $600,000 from the EU sixth framework program and was recently approved another $300,000 over three years.
Published by Globes [online], Israel business news - www.globes.co.il - on January 10, 2007
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