RedHill Biopharma, an Israel-based biopharmaceutical company started last year, has more than $10m from a consortium including mutual fund manager Fidelity Investments’ Biosciences venture capital (VC) team.
Fidelity has been investing its money as a corporate venturing unit since 1969 and was joined in the RedHill syndicate by Fischer Pharmaceuticals, a local drugs company also called Dr Fischer, Canada-based VC Rosalind Capital and angel investors.
Local news provider Globes said RedHill was considering raising a similar amount on the Tel Aviv Stock Exchange early next year.