NeuroSurvival Technologies (NST), a developer of agents that target apoptosis (programmed cell death) for both molecular imaging and therapy, has completed a $13.3 million financing.
In a two-part financing, NST, which has changed its name to Aposense Ltd., raised $6 million in September 2007 and now has concluded the second part of additional $7.3 million.
A group of existing shareholders participated in the financing by exercising outstanding warrants, in exchange for shares of Aposense, including Zeigler Meditech Equity Partners, Pontifax, Docor International, Federman Holdings, Technorov, Bargal R &D Investment, Phoenix Insurance, Polar Investments and Clal Biotechnology Industries.
Yoram Ashery, CEO of Aposense, said that the $13 million financing will help improve patient care through both molecular imaging and targeted therapy by funding operations into Phase 3 clinical trials of its ML-10 compound for molecular imaging of apoptosis.
Since inception, the Petach-Tikva, Israel-based Aposense has raised more than $40 million, including the current financing.