Check-Cap Raises $12M From Fosun Pharma

October 20, 2014 | Israeli pharmaceutical technology company Check-Cap raised $12 million in a private placement round led by Chinese company Fosun Pharma. Previous investors also participated in the round, including GE Healthcare, Docor, Pontifax, the Counterpoint Fund, MNS and others. The current financing round is a line of credit from which Check-Cap can pull a total of $12 million. In addition, according to “Globes,” Check-Cap recently renewed consideration its NASDAQ public offering. Check Cap is developing a pill that conducts an X-Ray scan on intestines in order to detect colon cancer. Check-Cap was founded in 2005 by company CTO Dr. Yoav Kimchy.