Novel alliance to promote Israeli biotech partnerships

Published: 1-Nov-2002


US life sciences merchant bank Burrill & Company, of San Francisco, has signed an alliance agreement with the top biotech corporate finance team in Israel, Life Sciences Transaction Support of the PricewaterhouseCoopers group (PwC/LTS) in Tel-Aviv. The deal is expected to accelerate global partnering with biotech companies based in Israel.

PwC/LTS professionals have contacts in Israel with the most promising Biotech companies, while Burrill & Company has the capability to promote the companies worldwide and the contact globally to find the right strategic partners. By joining together, the two forces will enable the Israeli companies to conclude significant strategic agreements worldwide.

'Israeli biotech has much to offer to the rest of the world and many of our companies have both products and technologies that are ripe for external synergistic partnerships with companies in the US, Europe, and the Far East,' explained Avner Lushi, ceo of PwC/LTS. 'One of the difficulties of the Israeli biotech industry is that the sector excels in innovative products and discoveries, yet its success also requires forming the right collaborative relationships for the development and marketing of these technologies worldwide.

'Burrill & Company has an extensive knowledge of the products, technologies and transaction types that are being sought by the life sciences industry. Through our new alliance, we are in a position to showcase what Israel has to offer.'

Scientific and commercial teams from both companies have done an initial review of 120 of the top life sciences operations in Israel and come up with an interesting list of companies that have highly partnerable products and technologies, according to G. Steven Burrill, ceo of Burrill & Company. 'We're confident that our matchmaking skills will accelerate value creation of both sides to the transaction,' he said. 'More importantly, our approach will speed the development and ultimate commercialisation of products and technologies that will benefit mankind.'

'The biotech industry in Israel has reached a point in its maturity where it is essential to conduct business on a more global basis,' said Claudio Yarza, partner in charge of PricewaterhouseCoopers Israel Life Sciences Practice. 'We have about 200 biotech operations in Israel, and growth for the majority of these companies will mean partnering. We believe our alliance with Burrill & Company will put the Israeli industry on an accelerated track.'

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