Investment round completed
Sol-Gel Ltd, an Israel-based developer of topical products for the dermatology market, has said it has raised $9 million in new investment. The company was founded in 1997 by Professor David Avnir of the Hebrew University of
Jerusalem and by Dr. Alon Seri-Levy, based on technology
developed by Professor Avnir.
The company’s pipeline includes a new generation of anti-acne kits that target the $1 billion acne therapy market.
“Even in the current global economic climate which has made investors become increasingly cautious and selective, Sol-Gel continues to stand out as an attractive investment opportunity. It has a proven set of technologies and a strong pipeline of products,” said Tamar Ciehanover, Chairperson of Sol-Gel.
“We are proud to achieve this milestone round of investment which will enable the company to strengthen its position in the pharmaceutical specialty market. Using our proprietary encapsulation technologies we plan to introduce more efficacious topical drugs to meet a wide variety of unmet needs in the dermatology market,” said Alon Seri-Levy, Sol-Gel’s CEO.
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