Biosight Ltd., a Airport City, Israel-based pharmaceutical development company developing innovative therapeutics for hematological malignancies and disorders, raised $19M in Series C financing.
The round was led by Israel Biotech Fund (IBF) with participation from SBI JI Innovation Fund, Arkin Bio Ventures, and additional new and existing investors.
The company intends to use the funds to advance the clinical development of its lead asset BST-236 (aspacytarabine), currently being investigated in a Phase 2b study as a single-agent, first-line treatment of acute myeloid leukemia (AML).
Led by Dr. Ruth Ben Yakar, Chief Executive Officer, Biosight is a private clinical-stage biotech company, developing innovative therapeutics for hematological malignancies and disorders, including acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). The BST-236 (aspacytarabine) is a novel proprietary anti-metabolite composed of cytarabine covalently bound to asparagine, acting as a pro-drug of cytarabine. BST-236 is designed to enable high-dose therapy with lower systemic exposure to free cytarabine and relative sparing of normal tissues. As such, BST-236 may serve as a superior therapy for AML and other hematological malignancies and disorders, including for older adults who are unfit for intensive therapy. BST-236 was granted Orphan Drug Designation from the FDA, which entitles Biosight to seven years of market exclusivity upon BST-236 marketing approval for the treatment of AML.