Beta-O2 Technologies, a Rosh Ha’ayin, Israel-based biomedical company, received an investment from Sherpa Innoventures.
The amount of the deal was not disclosed.
The new funding will be used to accelerate the company’s clinical development of the ßAir bio-artificial Pancreas for type 1 diabetes as well as the pre-clinical development of other pipeline products.
Led by newly named CEO Dr. Yuval Avni, a former partner at Giza VC, Beta-O2 Technologies develops the ßAir Bio-artificial Pancreas, which is in development as a treatment and potential cure for type 1 diabetes (T1D) and the ßAir Bio-artificial Adrenal for the treatment of adrenocortical insufficiency and other stress-related disorders.
The company is also backed by Aurum Ventures, SCP Vitalife Partners, Pitango Venture Capital and Saints Capital.