Three Portfolio Companies of Len Blavatnik's Clal Biotechnology Raise Cash in One Week

Clal Biotechnology Industries, an Israeli life sciences investment company controlled by Soviet-born businessman Len Blavatnik, has seen three of its portfolio companies raise funds in the past week. U.S.-based Clinical-stage immune-oncology company Neon Therapeutics Inc. raised $100 million in an initial public offering on Nasdaq last week, according to a company value of $450 million. Tel Aviv-listed BioCanCell Ltd., also a clinical-stage cancer treatment company, raised $22.9 million in a private placement. U.S.-based Cadent Therapeutics Inc., a company developing neurological medicine, announced on Monday it has raised $40 million.

Len Blavatnik. Photo: Yoav Dudkevitch