Aposense Ltd. (f.k.a. NST NeuroSurvival Technologies), an Israel-based developer of agents that target apoptosis for both molecular imaging and therapy, has raised $7.3 million in the second tranche of a $13.3 million round. Backers include Zeigler Meditech Equity Partners LP, Pontifax LP, Docor International, Federman Holdings, Technorov, Bargal R&D Investment, Phoenix Insurance Co., Polar Investments and Clal Biotechnology Industries. The company has now raised more than $40 million in total VC funding.
NST NeuroSurvival Technologies Ltd. (NST), the leading developer of agents that target apoptosis (programmed cell death) for both molecular imaging and therapy, today announced the completion of a $13.3 million financing. The company also announced that it has changed its name to Aposense Ltd.
In a two-part financing, Aposense Ltd. raised $6 million in September, 2007 and now concluded the second part of additional $7.3 million. A prominent group of existing shareholders participated in the financing by exercising outstanding warrants, in exchange for shares of Aposense. Participating shareholders included, among others, Zeigler Meditech Equity Partners LP, Pontifax LP, Docor International, Federman Holdings, Technorov, Bargal R&D Investment, Phoenix Insurance Co., Polar Investments and Clal Biotechnology Industries.
“Our new name, Aposense, reflects our expanded mission to improve patient care through both molecular imaging and targeted therapy based on our apoptosis targeting technology,” said Yoram Ashery, CEO of Aposense Ltd. “This $13 million financing will help fulfill this mission by funding operations into Phase 3 clinical trials of our ML-10 compound, for molecular imaging of apoptosis. I would like to thank the shareholders who participated in this financing for their contribution and continued support.”
Since inception, Aposense Ltd. has raised more than $40 million, including the current financing.