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Yissum Spinouts Raise $79 million in H1 2020 Despite Coronavirus Uncertainty

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Yissum Spinouts Raise $79 million in H1 2020 Despite Coronavirus Uncertainty

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Startups from the Hebrew University of Jerusalem raised $79 million in the first half of 2020, Yissum, the technology transfer company of the Hebrew University announced today.  Despite the continuing global uncertainty caused by the coronavirus and ongoing lockdowns around the world, 14 Yissum spinouts raised tens of millions of dollars in early-stage funding rounds.

Investments were made in companies in the cleantech, agriculture, and foodtech sectors as well as in life science, AI, and education.  Despite the fact that VC investments in the US  and Europe were down, the number of VC deals in Israel reached an all-time record in the second quarter of 2020. The record amount of money raised in Israel was done so by just 174 companies.

“We’re proud that the innovative companies emerging from research at the Hebrew University are continuing to grow even during these challenging times,” said Dr. Itzik Goldwaser, CEO of Yissum. “The fact that $79 million was raised by these early-stage companies across a number of different sectors illustrates that the technology developed and cultivated at the Hebrew University is having a global impact.”

Yissum spinouts that raised funds during the first half of 2020 include Tissue Dynamics, an AI organ-on-chip drug development company, and Nectin Therapeutics, an immune-oncology biotech focused on cancer therapies.

About Yissum

Yissum is the technology transfer company of the Hebrew University of Jerusalem. Founded in 1964, it serves as a bridge between cutting-edge academic research and a global community of entrepreneurs, investors, and industry. Yissum’s mission is to benefit society by converting extraordinary innovations and transformational technologies into commercial solutions that address our most urgent global challenges. Yissum has registered over 10,750+ patents globally; licensed over 1050+ technologies and has spun out more than 170 companies. Yissum’s business partners span the globe and include companies such as Boston Scientific, Google, ICL, Intel, Johnson & Johnson, Merck, Microsoft, Novartis and many more. For further information please visit www.yissum.co.il

Read the source article at PR Newswire

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