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BioProtect raises funds for ongoing balloon spacer clinical trial

September 22, 2020

Israeli biotechnology company BioProtect has raised $25m as part of its Series D equity financing from an undisclosed strategic investor and Peregrine Ventures.

The round, which was led by Almeda Ventures and Consensus Business Group chairman and investor Vincent Tchenguiz, had also seen the participation of KB Investments of South Korea and Triventures.

BioProtect will use the proceeds from the round to support the ongoing multicenter Food and Drug Administration (FDA) clinical trial of its ProSpace balloon spacer and the expansion of its technology platform.

ProSpace balloon spacer is developed to protect prostate cancer patients who undergo radiation therapy.