Israeli Startup Ayala Taking BMS Cancer Drug Into Phase II With $17m Financing
Ayala Pharma, which launched in late 2017, has raised $17m via a series A financing round to propel its lead precision cancer therapy into Phase II – an asset it licensed from Bristol-Myers Squibb.
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Private Company Edition: Venture capital for emerging therapeutics companies in the US and in ex-US regions reached all-time highs in 2018. Also, Alphamab raises $60m Series B, three new VC funds launch and FLX changes its name to RAPT.
While Israel has not wanted for early-stage scientific excellence, leading lights in the country's biotech space are working to create an ecosystem where clinical, regulatory and managerial expertise can develop.
April had four VC rounds of $100m or more, including Allogene's $300m to develop CAR-T therapies licensed from Pfizer. Innovent Biologics raised $150m, BenevolentAI brought in $115m and Constellation garnered $100m last month.