Mapi Pharma Ltd., Ness Ziona, Israel-based clinical stage biopharmaceutical company, received $10m in funding.
aMoon Fund, an Israeli vc firm focused on innovative healthcare and life science ventures, founded by Marius Nacht and Dr. Yair Schindel, made the investment.
The funds raised will support Mapi’s future development and enable the initiation of the Phase III trial for the lead product, Glatiramer Acetate (Copaxone®) Depot, or GA Depot, for the treatment of multiple sclerosis (MS).
Led by Ehud Marom, Chairman and CEO, engaged in the development of life cycle management (“LCM”) products that target large markets and generic drugs that include complex active pharmaceutical ingredients (“APIs”) and formulations. The GA Depot injection, administered once every four weeks, is the first in a series of depot long-acting injections in the company’s pipeline, for the treatment of MS. The product is an LCM of Copaxone®, which requires injections daily or every other day. The company recently completed a Phase II, open-label, two arm, multicenter, study to assess safety, tolerability, and efficacy of once-a-month, long-acting IM (intramuscular) injection of 80mg or 40mg glatiramer acetate in patients with relapsing remitting multiple sclerosis (RRMS).
Mapi has R&D facilities in Israel and China, and an API production facility in the Neot-Hovav Eco Industrial Park south of Beersheba, Israel.