Check-Cap Raises $24M Together With IPO

February 22, 2015 | The Israeli creators of diagnostic capsule technology, Check-Cap announced the pricing for its initial public offering. The company raised $12 million at a company value of $92 million, after money, while also closing a private-placement round worth $12 million. The two totals bring funding in the company to $24 million in this round, and a total of $45 million since the company was founded. The private placement round was led by Chinese company Fosun Pharma together with previous investors like GE Healthcare and Pontifax, among others. Check-Cap develops X-Ray capsules for the diagnosis of intestinal cancers and was founded by Yoav Kimchy.