Mapi Pharma Closes $10-Million Investment
Mapi Pharma Ltd. Recently announced that Shavit Capital has led an investment round of $10 million in the company in a Series A financing round that included participation by the company’s Chairman and CEO Mr. Ehud Marom. The funding will be used to support the company’s clinical development plans; the funding is sufficient to advance the company’s lead product, the Glatiramer Acetate (GA) Depot, a once-every-4-weeks injection, currently at Phase II, up to the initiation of the single pivotal Phase III needed for registration. This path follows the recommendations made during a pre-IND meeting the company had with the FDA in March 2015.
“Mapi Pharma has a strong portfolio and an experienced management team with an impressive track record. We are confident that our investment will serve as the foundation for the long term success of the company,” said Gary Leibler, Managing Partner of Shavit Capital.
“We are delighted to have a quality investor, such as Shavit Capital, which will strengthen Mapi’s capability to maximize the potential of its clinical-status product pipeline and pursue its strategy to obtain high-value, co-development deals and other financial opportunities as well as bring to the market a superior Glatiramer Acetate product for the benefit of MS patients,” added Ehud Marom, Chairman of the board and CEO of Mapi Pharma.
Shavit Capital manages private equity funds that invest primarily in Israeli-related companies with a clear path to an IPO and public companies traded in the US, Israel, or other international markets (PIPE/secondary offerings).
Mapi is a development-stage pharmaceutical company, engaged in the development of high-barrier-to-entry and high-added-value life cycle management (LCM) products that target large markets and generic drugs that include complex active pharmaceutical ingredients (APIs) and formulations. For more information, visit www.mapi-pharma.com.
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