The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: Israel

There’s No Bailout Like a Good Exit

A Bloomberg article this morning takes a look at the recent boom in Israel’s biotech and device stocks, and credits the government cash infusion (which we noted at the time) for some of the buoyancy; but also attributes much of the gain to speculation that the J&J-Omrix deal is the beginning, not the end, of acquisitions in the well-priced sector.  According to Bloomberg data, bargains still abound in Israel:

Most of the stocks still trade below their initial public offering prices and are valued at less than half of their global competitors relative to cash, according to data compiled by Bloomberg.

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Biotech Bailout: Israel Edition

Israel’s Ministry of Finance announced a two-part stimulus for high-tech and biotech companies. 

  • The first part is an additional infusion of NIS 150 million (US$37 million) for the Office of the Chief Scientist, which runs a variety of R&D and commercialization programs. 
  • The second part is NIS 250 million (US$61 million) to set up a new fund specializing in biotechnology investments. The fund will be leveraged by the private sector and will reach a total of between NIS 750 million and 1 billion, and will be managed by an experienced management body with expertise in the biotech R&D sector.

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