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Israeli Life-Science Firms Raise Most Funds in Two Years

May 14 (Bloomberg) -- Israeli biomedical companies attracted the most venture capital in two years during the first quarter, according to the IVC-KPMG Quarterly Survey.

The survey showed 38 health-related companies raised a total of $130 million, 2 percent more than in the same period last year and 73 percent more than in the fourth quarter, IVC-KPMG said in a statement today. Biomedical funds constituted 27 percent of all the venture capital money raised this quarter, the most out of any industry, according to IVC-KPMG.

Funds specializing on life sciences have boosted their investment focus on Israel. OrbiMed, an investment management firm focused on health-care, said on April 23 it started a $222 million fund investing in on Israeli life sciences. Israeli venture capital fund Pontifax Ltd. raised $88 million for a health fund last year.

Israel’s biotechnology index has gained 8.9 percent since the start of the year, outperforming the benchmark TA-25 index’s 2.6 percent return.

To contact the reporter on this story: David Wainer in Tel Aviv at dwainer3@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net

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