About
Proteologics Ltd is a biopharmaceutical company exploiting the ubiquitin system for the discovery and development of novel therapeuticsforcancer treatment. The reserach was performed byidentifying correlations between ubiquitin pathway components and pathological conditions. The ubiquitin system was discovered by two Israeli Nobel Prize Laureates, Avram Hershko and Aaron Ciechanover. Proteologics hasexploited the ubiquitin system for the novel therapeutics,focusing primarily on discovering inhibitors for specific E3 ubiquitin ligases. In 2012, XTLBiopharmaceuticals Ltd. (Pink Sheets:XTLBY; TASE:XTL) acquired 31% stake in Proteologics. Until then,Teva Pharmaceutical Industries Ltd. was the controlling shareholder in Proteologics. In Sept. 2013, Zmiha Investment House Ltd. (TASE: TZMI) has acquired control of Proteologics Ltd. from XTL Biopharmaceuticals Ltd. for NIS 12.1 million, including the control premium. Zmiha, a licensee in the Yam 3 offshore oil and gas exploration license, bought 6,738,828 Proteologics shares, 44.95% of the company. At that point, Proteologicsdecided to freeze its research activity. However, itsStocks have been tradedontheTASE. In addition, Proteologicshas several initial joint-development agreements with big pharma companies.
Company Intelligence Q&A
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- What is Proteologics' primary focus in biopharmaceutical research?
- Proteologics is a biopharmaceutical company focused on exploiting the ubiquitin system for the discovery and development of novel therapeutics for cancer treatment, specifically discovering inhibitors for specific E3 ubiquitin ligases.
- When was Proteologics founded?
- Proteologics was founded in May 1999.
- What was the initial significant investment in Proteologics prior to its acquisition?
- In 2012, XTL Biopharmaceuticals Ltd. acquired a 31% stake in Proteologics. Prior to this, Teva Pharmaceutical Industries Ltd. was the controlling shareholder.
- Who acquired control of Proteologics in September 2013, and for what amount?
- In September 2013, Zmiha Investment House Ltd. acquired control of Proteologics Ltd. from XTL Biopharmaceuticals Ltd. for NIS 12.1 million, which included a control premium. Zmiha purchased 6,738,828 Proteologics shares, representing 44.95% of the company.
- What was the operational impact on Proteologics after the acquisition by Zmiha Investment House?
- Following the acquisition by Zmiha Investment House Ltd. in September 2013, Proteologics decided to freeze its research activity. However, its stocks continued to be traded on the TASE.
- What is Proteologics' current status, according to startupim data?
- According to startupim data, Proteologics is currently inactive, having been acquired by Zmiha Investment House Ltd. in September 2013.
- How many employees did Proteologics have?
- Proteologics had 6 employees.
- What was the total amount of funding raised by Proteologics?
- Proteologics raised a total of $25,000,000 USD. For a full financing history, users are directed to startupim.
- When did Proteologics conduct its IPO?
- Proteologics conducted an IPO in March 2010 on the TASE under the ticker PRTL.