TechNation: Mylan Expected to Invest $20 Million in Drug Developer Mapi

Israeli workers vulnerable to automation at average rates ■ Armis raises $30 million for internet of things security

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EpiPen auto-injection epinephrine pens manufactured by Mylan NV pharmaceutical company for use by severe allergy sufferers are seen in Washington, U.S. August 24, 2016.
EpiPen auto-injection epinephrine pens manufactured by Mylan NV pharmaceutical company for use by severe allergy sufferers are seen in Washington, U.S. August 24, 2016. Credit: Jim Bourg, Reuters

Mylan expected to invest $20 million in drug developer Mapi

Mapi Pharma is expected to approve a $20 million private placement with Mylan as the American drug maker seeks to defend its generic version of the Teva Pharmaceuticals’ multiple sclerosis drug Copaxone. Founded by Ehud Marom, a former Teva executive, Rehovot-based Mapi is developing improved extended-release versions of existing drugs, including best sellers as well as treatments with a higher barrier to market entry and generics. By taking a stake in Mapi, Mylan is getting access to the Israeli startup’s lead product in development -- Glatiramer Acetate Depot, which replaces daily injections with a once-a-month alternative for people suffering from relapsing-remitting MS. If GA Depot succeeds in Phase III clinical trials, it would be a formidable competitor to Teva’s Copaxone and Mylan’s generic version. The Mylan investment comes a week after Mapi pulled a planned $50 million initial public offering on Wall Street in its second attempt to go public following an abortive 2014 effort. (Yoram Gabison)

Israeli worker’s vulnerability to automation average for OECD countries

Israel ranks about in the middle of the world’s most developed economies for jobs at risk in the future due to automation and computers, the Organization for Economic Cooperation and development said in a report last week. The club of the world’s richest economies found that the median Israeli worker had a 46% chance of his or her job being automated, slightly below the 48% average for all OECD countries and 14th lowest in the rankings, which ranged from a low of 39% in New Zealand to 62% in Slovakia.  The OECD said 14% of jobs in developed countries were highly automatable, while another 32% were likely to undergo significant changes. Some economies are far more vulnerable than others, with a third of all jobs in Slovakia regarded as highly automatable, while only 6% of those in Norway are. The safest jobs involve the most human interaction, creativity and problem-solving skills, the report said. (Tali Heruti-Sover)

Armis raises $30 million for internet of things security

Armis, a U.S.-Israeli provider of internet of things enterprise security, said on Monday it raised $30 million in financing, bringing the total it has raised to $47 million since it was founded three years ago. Red Dot Capital Partners, a venture capital fund backed by Singapore’s Temasek, led the round with Bain Capital Ventures joining. Sequoia Capital and Tenaya Capital also participated as return investors. The company secures IoT devices such as a video camera, light bulb or sensor without any on-board software, which is often impossible to install. Armis said it would use the money to expand sales and marketing and further develop its security platform. Global spending on IoT security is expected to reach $3 billion in 2021, according to data released by Gartner. “Last year, IoT played a role in driving enterprise cyberthreats up by almost 300%,” Armis CEO Yevgeny Dibrov said. Armis is headquartered in California with a 35-person research and development center in Israel. (TheMarker Staff)

Porsche joins Daimler in taking stake in Israel’s Anagog

Porsche became the second German automaker to take a minority stake in the Israeli startup Anagog. Porsche Digital, which identifies trends and invests in startups for Porsche AG, said last week it took an unspecified stake in Anagog to gain access to its technology, which helps companies to better understand and anticipate customer behavior. “ The Israeli start-up scene in the technology sector is founded on an enormous amount of knowledge and potential,” said Porsche Digital Managing Director Thilo Koslowski. Anagog’s technology, now used in about 100 different apps, collects data from a driver’s cellphone to determine whether the user is in motion and driving a car. That could be used to create features such as intelligent parking options. Founded in 2010, the Tel Aviv-based startup currently has around 30 employees. In February, Daimler joined a financing round in Anagog together with MizMaa Ventures, a California-based venture capital investor. (TheMarker Staff)