china everbright limited’s catalyst-cel china-israel fund announces investment into pharmaceutical company raziel therapeutics
18 february 2020 – china everbright limited’s ( everbright, stock code: 165. hk ) catalyst-cel china-israel fund (“the fund”) is pleased to announce an investment into raziel therapeutics (“raziel” or “the company”), a clinical-stage israeli pharmaceutical company developing local fat-melting solutions for both the therapeutics and aesthetic markets. the fund joins pontifax, quark venture, peregrine investments and wille finance ag as well as other existing investors in the company’s $22 million c-round fundraising.
raziel is developing a proprietary new chemical entity drug, rzl-012, for aesthetic applications and medical fat disorder with a novel injected treatment. financial proceeds will support phase 2b development of rzl 012 for submental fat reduction and dercum’s disease.
alon bloomenfeld, chief executive officer of raziel, commented, ”as we advance rzl-012 into phase 2b development in therapeutic and aesthetic indications, we are privileged to have strong support from top-tier investors like catalyst-cel who share our vision of creating a best-in-class product with clear clinical benefits that address the unmet needs of many people with fat disorders and aesthetic conditions.”
“we are delighted to add raziel to our fund’s portfolio, and look forward to working with quality partners to assist the company in the coming years”, commented shengyan fan, managing partner of the fund. “the company offers a novel solution for a highly attractive sector where rzl-012 could gain strong market traction once they prove their potential.”
yair shamir, managing partner of the fund noted, “we are excited to partner with raziel as they look to develop their novel solutions in both aesthetic and therapeutic markets. the company has succeeded to raise substantial capital which should equip the team to focus on achieving the best possible outcomes in the upcoming clinical trials.”
