04 November 2014 | News | By BioSpectrum Bureau
WuXi Pharma ventures into Israel
WuXi PharmaTech has expanded its presence in Israel
Singapore: China headquarterd WuXi PharmaTech has expanded its presence in Israel to provide integrated R&D services to local customers.
The R&D service provider has collaborated with Pontifax, a healthcare-dedicated venture capital firm based in Israel, to invest in promising technologies in Israel, particularly those that can potentially advance WuXi's capabilities.
"We welcome WuXi's presence in Israel and believe the new representative office will be mutually beneficial to WuXi and the Israeli biotech industry," said Mr Tomer Kariv, CEO, Pontifax.
"We are excited to establish a presence in Israel and to contribute to one of the most dynamic healthcare innovation ecosystems in the world," said Dr Ge Li, chairman and CEO, WuXi PharmaTech. "We value the expertise that Pontifax has developed in Israel's biotech industry and look forward to working closely with them to help many of their portfolio companies and other startup companies. This step advances WuXi's mission of helping entrepreneurs in the global life sciences industry to realize their dreams of developing innovative products to benefit the world's patients."