BioMarCare, an Israeli developer of diagnostic kits for early cancer detenction has received a $1m strategic investment from Micromedic Ltd.
The company intends to use the capital for research and development of its kits.
Micromedic, which is traded on the Tel Aviv Stock Exchange, also has an option to invest an additional $1m.
A portfolio company of Hadasit Bio-Holdings Ltd. (TASE: HDST, OTC: HADSY), BioMarCare develops diagnostic kits based on novel biomarkers for early cancer identification, monitoring and assistance, with personalized drug treatment, by a simple blood test or standard biopsy. The products currently in development are for breast and colon cancer.
The company is managed by Mrs. Dana Cohen. Its intellectual property is based on the work of doctors and researchers of the Hadassah Hospital. Prof. Tamar Peretz, director of the department of oncology at Hadassah Ein Kerem is BioMarCare’s CMO.