The Israel-based investment firm, Arkin Holdings, is raising $140 million to help companies develop medicines in gene therapy and other areas in life sciences.
The firm said on Monday, that it created a new funding body called Arkin Bio-Ventures II that aims to provide money to RNA-DNA-based therapies and other targeted therapies. “Arkin Bio-Ventures II builds on the success of our earlier, well-established and lucrative fund. Together with our partners, we look forward to furthering successful investments in novel and world-class technologies and organizations,” said chairman Mori Arkin.
The new investment body will be managed by the head of Pharma Pini Orbach Ph.D. and investment manager Alon Lazarus. Arkin Bio-Ventures will expand in medicine and new therapies for patients.
Arkin Holdings launched the fund for life sciences in 2016, garnering $60 million, together with The Phoenix Group. The partnership made it possible to create the biotech incubator, which is an advanced facility for babies.
Aside from the new funding body, the investment firm also funded ten other companies in the field of biotherapeutics. These companies include UroGen Pharma, MetaboMed, Pi Therapeutics, Redpin Therapeutics, BioSight, Lutris Pharma, and CCAM Biotherapeutics.
Arkin Holdings also funded clinical developments since 2018. When BioSight was launched in 2018, Arkin Holdings provided funding for the study of one of its drugs called BST-236, the first-line drug for acute myeloid leukemia.
Some of the investment firm’s partners include Migdal and Phoenix Group. The three life sciences investors will target companies offering therapies for patients with unmet needs. “We are excited to collaborate with Migdal and Phoenix Group, two of Israel’s largest and most sophisticated institutional investors,” added Arkin.
Arkin Holdings is one of the biggest investors of biotech companies in Israel including public companies like Solgel and Urogen.