Metabomed Ltd, a Yavne, Israel-based cancer metabolism company, completed an extension of its Series A round bringing the total of its raise to $18m.
Backers included existing investors MS Ventures, Boehringer Ingelheim Venture Fund (BIVF), Pontifax Fund, and the Technion Research and Development Foundation and new investors Pfizer Inc. (NYSE: PFE) and Arkin Holdings.
Co-founded by MS Ventures and three researchers in the field of cancer metabolism and computational biology — Prof. Eyal Gottlieb from the Beatson Institute for Cancer Research in Glasgow, UK, Prof. Eytan Ruppin from Tel Aviv University and the University of Maryland, and Prof. Tomer Shlomi from the Technion Israel Institute of Technology, Metabomed is focusing on the discovery and development of potential small molecule drugs directed against novel targets in the field of cancer metabolism.
Based on proprietary interdisciplinary target identification platform, the company identifies new targets that form a synthetic lethal gene pair with metabolic genes inactivated in cancer cells. By inhibiting these targets, it intends to develop more selective anti-cancer drugs that may potentially be highly targeted, and therefore sparing of normal cells.
Following the completion of this round, Simone Botti, current Head of the MS Ventures Israel BioIncubator, will leave his position in order to join Metabomed as its full-time CEO.