Net loss widens at Keryx of Israel
Keryx Biopharmaceuticals, an Israeli firm listed on the USA's Nasdaq,has posted a net loss for the year ended December 2000 of $11.4 million, compared to a net loss of just over $9 million for the previous year. The company noted that the rise was due to development costs of its KinAce drug discovery technology and KRX-101 (sulodexide), which is about to go into Phase III trials for the treatment of diabetic nephropathy.
Survey highlights growth
Meantime, a survey of Israel's fastest-growing technology firms from Deloitte Touche placed Keryx 16th out of 50, as its valuation at the end of 2000 was $195 million compared with $20 million a year earlier.
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