06.01.17.Cancer Fighter ARTSaVIT Raises $6.3M.
Israeli cancer apoptosis company ARTSaVIT LTD. announced today that it has completed a $6.3 million Series A round of financing led by Arkin Bio Ventures and Pontifax, with participation of Merck Ventures, Carmel Innovation and Carmel – Haifa University Economic Corporation Ltd. ARTSaVIT was co-founded by Carmel, the economic corporation of the University of Haifa, Carmel Innovations Fund and Professor Sarit Larisch from the University of Haifa, Israel. Prof. Larisch has identified and acterized ARTS, a protein which regulates the levels of several important anti-apoptotic proteins by promoting their degradation. Apoptosis, is a highly regulated process of natural cell death. Faulty regulation of apoptosis, is implicated in many human diseases, including cancer. Moreover, resistance to apoptosis is a hallmark of most human cancers. ARTSaVIT will move from its facilities at Carmel, University of Haifa, to the state-of- the-art facilities at the Merck Ventures Israel BioIncubator, which will support the development of the start-up with its infrastructure and a wide range of incubation facilities and services.