January 4, 2018| Israeli-based life sciences venture capital firm Pontifax has raised $240 million in a new fund, according to Calcalist, which obtained an internal document from the company. “It is expected Pontifax will invest the fund in the pharmaceutical industry,” Calcalist reports. This is the fifth fund for Pontifax, a company which closed $175 million 2016, the report said citing the presentation. Herzliya-based firm Pontifax, a VC group that specializes in investments in incubation, seed or startups related to life science and pharmaceutical firms, was established in 2004. The firm currently has roughly 60 companies in its portfolio, including Kite Pharma, a cancer treatment company sold to Gilead Sciences in August for almost $12 billion, and ReWalk, a bionic walking assistance system developed in Israel. It is said to have $350 million in assets, according to Calcalist. The VC fund is taking part in the partnership between Chinese pharmaceutical firm WuXi AppTec and Merck Serono to set up a biotech/pharma incubator in Israel in early 2018.