Another Israeli exit in the biotech sector. Clinical research firm Amarin agreed to acquire Israel-based privately held research and development company Ester Neurosciences for an initial $15m (€10.2m), in addition to $17m (€11.5m) in contingent payments.
Ester Neurosciences Ltd. is a development stage biopharmaceutical company committed to the discovery and development of novel therapeutic products for the treatment of neurological disorders such as myasthenia gravis, Alzheimer’s disease, multiple sclerosis and acute stress reactions. Ester’s unique platform technology is based on the company’s breakthrough discoveries relating to cholinergic neuromodulation and its involvement in the diseased state. Ester was led by Prof. Eli Hazum, and founded in 1997. [via]