Research & Development
BioProtect reports USD13m from initial closing of Series D equity financing
15 January 2020 -

BioProtect ltd on Tuesday announced the initial closing of USD13m under its Series D equity financing with a leading global syndicate of venture investors.

The major investors leading the round are the family office of Vincent Tchenguiz, chairman of Consensus Business Group, a prominent private equity investor in Israel and the UK with an expanding focus on life sciences who committed USD7m.

In the Series D equity financing, the leading medtech venture investors Accelmed Ventures II, a healthtech fund managed by Irit Yaniv, MD and Amir Blatt and KB Investments, a major Korea-based financial institution, have together contributed an additional USD6m.

Proceeds of the round will finance the ongoing multicentre FDA clinical trial of BioProtect's lead product, the ProSpace balloon spacer, which protects prostate cancer patients undergoing radiation therapy, as well as the expansion of the technology platform. Its pipeline of spacing products improve outcomes in radiotherapy and interventional oncology procedures as well as in aesthetics and general surgery.

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