"The US companies who have committed excellence to the event are aware of Israel's preeminence, technical expertise and reputation for innovation in the life sciences area and are looking to meet with potential strategic partners," said Osnat Karp, Executive of the Healthcare and Biotechnology section at the Israel Export Institute.
Many of the VC's who will be participating in the event are located outside the Boston and Silicon Valley areas and are not yet familiar with Israel's biotechnology sector. this represents an excellent opportunity for Israeli companies to present themselves to new investors, eager to learn about Israel's specific capabilities, stated Karp.
Sixty-five US companies and VC's have committed to the event including Abbott Laboratories, Baxter, IBM Life Sciences, Hitachi Medical Systems, Kent State University Technology Transfer Office, NASA (Space Flight Systems and Medicine Div.), Trek Diagnostics, Timken Technology Office, BioEnterprise, Inc., National City Investments, McDonald Investments, Walden Israel Venture Fund and Primus Ventures. Another 15 companies are expected to participate.
BSecure Fights Drug Counterfeiting
Security Companies Move Into Life Sciences
Counterfeit drugs may contain too much, too little or no active ingredient, the wrong ingredients or high levels of impurities, contaminants and even toxic substances.
The role of security products and technologies is crucial to drug piracy enforcement, said Ian Lancaster at the Global Forum.
He pointed out that some of the most innovative solutions are being developed by Israeli security and authentication product companies, using sophisticated coded and covert authentication solutions.
"Israel offers a unique combination of hi-tech savoir faire from the army and the hi-tech and medical knowledge from both Israeli and Russian scientists," said Lancaster.
One company which has developed an arsenal of overt and covert tactics to combat the distribution of counterfeit drugs is Caesarea-based BSecure Technologies.
Prior to entering the pharmaceutical sector Bsecure developed security products for clients that include Intel, New Balance and the Israeli Driver's Bureau.
Using technological and chemical tools to stay one step ahead of counterfeit crimes, CEO Ron Peer said: "In conjunction with a UK company, we have devised systems for determining both the quality and quantity of drugs."
"Based on a chemical antibody lock and key authentication system, we use highly specific bioengineered recognition molecules to detect simple chemical codes implanted into a tablet, gel coating or liquid form of a drug," he continued, emphasizing that the FDA approved assay in no way changes the efficacy of the drug.
Immuno-assay techniques are tuned by BSecure's bioengineers to detect specific chemicals at parts per billion allowing drug importers and distributors to access the quality and quantity of the active ingredients to be revealed, within minutes.
The same technology is being used for gasoline and alcohol industries.
"BSecure is dealing with highly classified products and information," commented Chairman Gideon Fishman who described the machine-readable ink in use. Indistinguishable with the naked eye from other ink, it can be printed virtually anywhere to protect brand owners.
The extent of counterfeiting varies from country to country; global estimates start at two percent according to the International Federation of Pharmaceutical Manufacturers (IFPMA), rising to 80 percent in some countries, usually developing nations, where economies are unstable; patients tend to turn towards the cheapest available medications, not knowing that some may be lethal.
"It is very hard for pharmaceutical companies to admit that the counterfeiting problem exists because they don't want customers to be afraid of the risk. The magnitude of the problem is about 10 percent of the massive global pharmaceutical market," commented Peer.
BSecure, formerly PitKit Technologies is a holding and marketing company formed by its mother company, PitKit Printing Enterprises Ltd. BSecure employs about 30 Israeli electronic engineers, physicists, programmers and metallurgists.
Arie Levine, Chief Scientist is a physicist, chemical and laser specialist from Colombia and Yale Universities. Ten percent of BSecure is owned by U.S. security company Genuone, 3 percent employee-owned. PitKit Printing Enterprises was founded by Gideon Fishman, and Zeev Blajwajs.
Israeli Arab and Jewish Incubator Funds Life Science
The incubator operates under an Office of the Chief Scientist experimental model as a private company. Some 30 projects have been examined to date, of which 35 percent are Arab ventures. One project belonging to an Arab entrepreneur has already been approved. The incubator's long-term objective is to reach 12 projects.
The first project will focus on dietary supplements, which may turn into a medical product in the future; said Sharon Devir, director of the incubator project. "We expect about half of the projects to be from the life sciences area," he continued.
The companies will be housed by the incubator in an 800 square meter site for the first two years in Nazareth.
CJAED was founded in 1988 by Israeli Arab and Jewish business people on the premise that Israel's diverse population provides the country with an invaluable resource. CJAED aims to provide Israeli Arabs with the necessary skills and advantages to capitalize on opportunities for development.
IEI and Ohio Israel Chamber of Commerce Organizing Mission
The Israel Export Institute and the Ohio-Israel Chamber of Commerce have joined forces and are organizing a biosciences mission to Cleveland, Ohio in January 27-30, 2003. The event will be an opportunity for Israeli companies to meet one-on-one with relevant companies, medical organizations and VC's.
"Based on a chemical antibody lock and key authentication system, we use highly specific bioengineered recognition molecules to detect simple chemical codes implanted into a tablet, gel coating or liquid form of a drug," said Ron Peer, CEO, BSecure.
The first Global Forum on Pharmaceutical Counterfeiting that took place in Geneva, Switzerland earlier this fall, heard evidence that counterfeit medicines are a threat to public health worldwide.
An Arab-Jewish high-tech incubator has opened in Nazareth. The site is opening with an initial investment of $1.4 million, funded by six Israeli Arab businessmen from the Galilee and an Israeli entrepreneur Davidi Gilo, who are in a partnership with the Center for Jewish-Arab Economic Development (CJAED). A substantial amount of the fund will be allocated to finding life science projects effectively bridging the gap between the Israeli Arab and the Israeli scientific communities.