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MicroRNA Start-up Rosetta Genomics Closes $4M Private Equity Round

NEW YORK, March 28 (GenomeWeb News) - Israeli microRNAi-technology start-up Rosetta Genomics has closed a $4-million financing round recently, according to a news report.

 

Rosetta has developed a way to discover microRNA genes, and hopes to begin generating revenue in 2006, according to Globes Online. The current financing round will help the company expand its IP estate and pay for clinical trials on animals for the miniature molecules it has developed.

 

The round, Rosetta's third, was led by Kadima High Tech. Other investors included Israeli drug maker Teva Pharmaceuticals; Leon Recanati; GlenRock Israel; VCON Chairman and CEO Yair Shamir; Agis chairman Moshe Arkin; Uzia Galil; Yoav Chelouche of the Fantine Group; Nathan Hod, former CEO of DSP Communications; Mordechai Segal, cofounder of Libit Signal Processing; Ami Lidor of Lidor Chemicals; Moshe Many, former president of Tel Aviv University, and chairman of Teva's R&D committee; Michael Sela, Israel Prize laureate and former president of the Weizmann Institute of Science; First International Bank of Israel Chairman Joshua Rosensweig; Ehud Arad of the law firm Bach, Arad, Scharf, & Co.; and investor Michael Davis.

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