As reported by IVC, so far this year, 19 life sciences start-ups have been founded at the incubators.
53% of the 81 new companies established at incubators in 2009 were in the life sciences, according to the Israel Technology Incubators Forum (ITIF). 33 of the start-ups (41%) are developing medical devices, and ten (12%) are biomed firms. So far this year, 19 life sciences start-ups have been founded at the incubators, 15 of which are medical devices companies.
Prominent biomed companies that have emerged from the incubators program include Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN), Protalix Biotherapeutics Inc. (AMEX:PLX), D-Pharm Ltd. (TASE: DPRM), Mazor Surgical Technologies Ltd. (TASE:MZOR), and Remon Medical Technologies Ltd. The aggregate value of M&As is about $1billion.
Out of the 579 companies founded at incubators, 209 (38%) are medical devices companies, and 89 (16%) are biotech and pharmaceutical firms. 19 of Israel’s 26 incubators invest in the life sciences.
ITIF chairman Eyal Lifschitz said, “The technology incubators are Israel’s infrastructure for the life sciences. Most companies in this field founded in Israel and which obtain seed investment start out at an incubator.” Lifshitz is a general partner at Peregrine Ventures.