Israeli venture capital fund aMoon has been the lead investor in two funding rounds of international tech companies since the beginning of the coronavirus (Covid-19) pandemic. Both rounds, one for an American company and the other for a British company, total in $65 million.
Pennsylvania-based MOBILion Systems, Inc., raised a $35 million series B round in August. The company develops trailblazing high-resolution instrumentation for biomarker discovery, diagnostics, and therapeutic development. MOBILion's innovative technology will enable scientists to rapidly and efficiently separate, identify, and analyze the most challenging molecules that other instruments fail to detect at unparalleled resolution and much faster speeds. The technology aids in reducing “blind spots” in research projects, allowing for earlier disease detection, more accurate diagnostics, improved treatment options for individual patients, and reduced healthcare costs. The company met all its series A milestones and earned a strong market response for its first product, which launched to select beta users in the pharma market. The product will be fully launched in North America in 2021.
In addition, aMoon also made its first investment in the European market, leading a $30 million financing round for U.K.-based MiNA Therapeutics, which develops RNA activation therapeutics for the treatment of chronic ailments, with revolutionary potential in the treatment of cancer and other genetic or metabolic diseases. The company has developed a treatment to restore normal function to patients’ cells and reduce immune suppression caused by cancerous tumors.
According to the company, the proceeds from the financing will be used to advance MiNA's pipeline of proprietary, first-in-class, small activating RNA therapeutics, and to support the continued clinical development of its treatment of cancer and other diseases.
“Facing a shifting reality, we continue to team up with the most promising entrepreneurs and teams in Israel and around the world to advance trailblazing technologies that are revolutionizing the healthcare industry,” said aMoon’s founding partner Yair Schindel. “In the midst of the Covid-19 crisis, we led significant investments and funding rounds in international companies, carried out strict due diligence procedures, and even conducted a Nasdaq IPO via Zoom. In the absence of face-to-face meetings, we came up with creative solutions to overcome the challenges, including investing greater time in virtual personal and team meetings in order to form better relationships with the companies’ management teams, conducting virtual tours, and consulting with local external advisors.”
“Our latest investments in the U.S. and Europe accelerate the development of personalized healthcare and offer real breakthroughs in the treatment of cancer and other chronic diseases. There is a growing interest on the part of foreign companies to gain access to Israel’s leading healthtech sector and we at aMoon are proud to be building bridges to the industry.”