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Existing investors Tamir Fishman Ventures, Ofer Hi-Tech, Ltd., Aviv Venture Capital and private investors are also participated in the funding.
Under the transaction, Teva Pharmaceutical will invest $4 million and the existing and new investors will join the current investors and invest $4.5 million by conversion of prior convertible notes given to the company.
Deal Value (US$ Million) 8.5 Deal Type Venture Finance Sub-Category Growth Capital/Expansion Deal Status Completed: 2009-10-27
Deal Participants
Target (Company) MultiGene Vascular Systems (MGVS), Ltd. Acquirer 1 (Company) Undisclosed Investors Acquirer 2 (Company) Teva Pharmaceutical Industries, Ltd.
Deal Rationale
MGVS would use the proceeds to finish its MultiGene Angio dosing study (Phase I\IIa) planned for 2010 and move forward the MultiGene Graft product into clinical study.
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