Peptor, a private Israeli biopharmaceutical company, has raised $13 million in a second private placement. The amount raised was higher than the $9 million that had been expected. This reflects a preplacement value for Peptor of $35 million, six times its value two years ago. Teva has increased its stake in the firm and now controls 10% of the company. The two firms also have "know-how" agreements, according to local reports.
Established in 1993, Peptor develops synthetic peptides and peptidomimetic-based pharmaceuticals. The core technology used is that developed at the Hebrew University's chemistry department, the synthesis of peptides with fixed, known conformations through a patent-pending cyclization technology. Target indications include asthma, osteoporosis, and certain cancers.
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