Avraham Pharmaceuticals, an Israel-based drugs developer, has raised $5.7m from a consortium including Tel Aviv-listed Clal Biotechnology and university venturing funds.

Founded in 2010, Avraham said it had now raised $14.7m to to test patients with Alzheimer’s disease after a $9m round in April 2010.

The other investors in the round were Yissum Technology Transfer Company of the Hebrew University of Jerusalem, Technion Research and Development Foundation and the Pontifax fund.

Yissum and Integra Holdings, Yissum’s biotech holdings company, now own 47% of Avraham, which is developing Ladostigil to treat early-stage Alzheimer’s disease and mild cognitive impairment, according to news provider Globes.

Ladostigil was designed by professor Marta Weinstock-Rosin of the Hebrew University of Jerusalem, who discovered Exelon, and professor Moussa Youdim of the Technion Israel Institute of Technology, who discovered Azilect. The drug substance was first synthesized by professor Michael Chorev of the Hebrew University, who is now based at Harvard University. All three scientists act as scientific advisers to Avraham Pharmaceuticals.

Avraham Pharmaceuticals, an Israel-based drugs developer, has raised $5.7m from a consortium including Tel Aviv-listed Clal Biotechnology and university venturing funds.

Founded in 2010, Avraham said it had now raised $14.7m to to test patients with Alzheimer’s disease after a $9m round in April 2010.

The other investors in the round were Yissum Technology Transfer Company of the Hebrew University of Jerusalem, Technion Research and Development Foundation and the Pontifax fund.

Yissum and Integra Holdings, Yissum’s biotech holdings company, now own 47% of Avraham, which is developing Ladostigil to treat early-stage Alzheimer’s disease and mild cognitive impairment, according to news provider Globes.

Ladostigil was designed by professor Marta Weinstock-Rosin of the Hebrew University of Jerusalem, who discovered Exelon, and professor Moussa Youdim of the Technion Israel Institute of Technology, who discovered Azilect. The drug substance was first synthesized by professor Michael Chorev of the Hebrew University, who is now based at Harvard University. All three scientists act as scientific advisers to Avraham Pharmaceuticals.