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Israel Biotech Fund ready to expand portfolio after closing $112 million second fund

Israel Biotech Fund (IBF), founded by Dr. David Sidransky, Dr. Yuval Cabilly and Ido Zairi, announced the closing of its second fund with a total of $112 million. The fund will focus on the investment and formation of Israeli biotech and pharma companies developing drugs at different stages of development and for various indications. Amongst the main limited partners of fund II are Harel Insurance, BMS, an international pharmaceutical company, and the CBG fund. The second fund will continue its collaboration with the international advisory team of the fund, which includes, among others, Dr. Sol Barer, founder of Celgene and Chairman of Teva, and Jeff Kindler, former CEO of Pfizer.

Israel Biotech Fund closes $112m second fund

Israel Biotech Fund closes $112m second fund IBF focuses on investments in drug development and medical diagnostics companies in all stages. Israel Biotech Fund (IBF) has closed its $112 million second fund. The fund was founded by managing partners Dr. David Sidransky, Dr. Yuval Cabilly, and Ido Zairi. The main investors in the second fund include Harel Insurance Investments and Financial Services Ltd. (TASE: HARL), pharmaceutical giant Bristol Myers Squibb (BMS) and the CBG Capital private equity fund. IBF s second fund is larger than its first fund, which amounted to $70 million, and slightly larger than the amount that it set out to raise.

Sanofi s $125 million Israeli drug buy could be a three-pronged cancer buster

Workers in the Biond Biologics lab in Misgav, Israel (Courtesy) The anti-cancer drug developed by Biond Biologics, which the Israeli startup will now try on humans in clinical trials with France-based multinational Sanofi, takes a multipronged approach to fighting tumors, activating three kind of cells in the immune system at the same time. Paris-based multinational pharma firm Sanofi signed a licensing agreement earlier this month for Biond’s flagship anti-tumor drug BND-22, a cancer immunotherapy medication. Under the terms of the agreement, Biond will receive an upfront payment of $125 million in cash and up to $1 billion in potential development, regulatory and sales milestones, as well as tiered double-digit royalty payments, the Israeli firm said in a statement. Biond will lead the first-in-human Phase 1a clinical trial of the drug, evaluating its safety and tolerability. Afterwards, Sanofi will take on development responsibilities and commercialization of the drug, Biond

Sanofi et Biond Biologics (Israël) La start-up qui lutte contre le cancer

Sanofi et Biond Biologics (Israël) La start-up qui lutte contre le cancer
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Biond Biologics and Sanofi Enter into Global Licensing Agreement for BND-22, a Novel Immune Checkpoint Inhibitor Targeting the ILT2 Receptor

Share this article MISGAV, Israel, Jan. 12, 2021 /PRNewswire/   Biond Biologics Ltd. ( Biond or the Company ), a privately-held biopharmaceutical company, developing novel immunotherapies for cancer and a platform enabling the intracellular delivery of biologics, today announced that it has entered into an exclusive worldwide license agreement with Sanofi (EURONEXT: SAN) (NASDAQ: SNY), for the development and commercialization of BND-22. BND-22 is a humanized IgG4, antagonist antibody targeting the Ig-like transcript 2 (ILT2) receptor in development for the treatment of solid tumors. ILT2, a member of the ILT family of immuno-modulating receptors, is an inhibitory receptor expressed on both innate and adaptive immune cells that binds MHC class I molecules including HLA-G, an immunosuppressive protein expressed by multiple tumor types.

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