Israeli Upstart Vidac Raises $9M for Cancer


Israeli startup Vidac Pharma has raised $9 million in a Series A raise with the financial boost being led by a new investor, the $100 million Israel Biotech Fund–which has chosen Vidac for its first investment.

Existing investors, including Mivtach Shamir Holdings, also participated in the financing, with the cash being used toward its Phase II study for actinic keratosis (AK)–an extremely common skin condition in the middle-aged and older that comes as a result of consistent sun damage over many decades.

The VDA-1102 ointment is hoping to better current treatments on the market, which include 5-fluorouracil cream, imiquimod cream, diclofenac gel and ingenol mebutate gel, or surgical removal. These can however leave scars and cause blistering, while also increasing the risk of infection.

 

BEN ADAMS, FIERCE BIOTECH

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