MultiGene Vascular Systems (MGVS) secures $8.5 million in venture funding round
TEVA | Quote | Chart | News | PowerRating -- MultiGene Vascular Systems (MGVS), Ltd., an Israel-based developer of therapeutic products for heart and blood vessel disorders, has secured $8.5 million in a financing round led by Teva Pharmaceutical Industries, Ltd.
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.
For full details on Teva Pharm Ind (TEVA) TEVA. Teva Pharm Ind (TEVA) has Short Term PowerRatings at TradingMarkets. Details on Teva Pharm Ind (TEVA) Short Term PowerRatings is available at This Link.
- Israeli Teva gets rights for multiple sclerosis drug in Nordic, Baltic states - 02/09/10
- BiomedReports: News and FDA Updates for Synta (NASDAQ:SNTA), Teva (NASDAQ:TEVA), Active Biotech (NASDAQ:ACTI) - 02/09/10
- Teva and Active Biotech amend marketing and distribution agreement - 02/09/10
- FDA Accepts Teva's XM02 for Neutropenia - 02/09/10
- Teva extends oral laquinimod marketing rights: Teva and Active Biotech amended their marketing and distribution agreement for or - 02/08/10
- More News >>


