07.12.12, 14:23–Orbimed Israel will invest $7.15 million in RDD Pharma, a company currently developing an intra-anal drug delivery device that delivers a drug to the anal canal. This is the company’s first significant financing round since its establishment in 2009 by Dr Nir Barak.
RDD Pharma is a graduate of the Ofakim Hi-Tech Ventures incubator, owned by Capital Point Ltd. Dr Nissim Darvish and Erez Chimovits from Orbimed Israel will be joining the company’s board of directors.
The company focuses on drugs for proctologic treatments; one such drug treats spinal cord injury. The drug is in the clinical trials while another drug is at the initial clinical trial stages.
Dr. Nissim Darvish noted that Orbimed decided to invest in RDD Pharma thanks to the essential function of the two products the company is currently developing and their necessity on the global market…Read More>>