Connect with us

Hi, what are you looking for?

Jewish Business News


Drug developer NeuroDerm to begin Nasdaq IPO

 The Israeli Parkinson’s disease treatment developer is seeking $58-72 million at a company value of $290 million.

Nasdaq israel


Rehovot-based NeuroDerm, which has developed a transdermal drug delivery system for the treatment of Parkinson’s disease, is expected to price its Nasdaq IPO this evening. The company is seeking to raise $58-72 million at a company value of $290 million.

Jefferies and Cowen & Company are the joint bookrunners on the deal with Oppenheimer and Roth Capital acting as secondary underwriters. The company will trade under the NDRM ticker.

NeuroDerm’s main shareholders include Omrix Biopharmaceuticals founder Robert Taub (28%) who serves as Chairman, Uwe Wascher (25.9%) a former GE senior executive and close friend of Taub and private investor Prof. Shmuel Cabilly (22.2%), while Capital Point Ltd. (TASE:CPTP) holds 16.6%.

NeuroDerm’s product for treating Parkinson’s disease is set for a Phase III trial in 2015. A product to treat more severe forms of Parkinson’s is currently in a Phase IIa trial and if successfully completed will proceed to a Phase IIb trial in 2015.

A company with a rival product, Civitas, was recently sold for $525 million.

Published by Globes [online], Israel business news –

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...


Now Platika joins and elite club of $10 billion plus Israeli firms.