Start-up BioProtect spins off orthopedics unit

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The new company, Ortho-Space, has raised $1 million at a company value of $5 million after money.

Xenia Venture Capital Ltd. (TASE:XENA) portfolio company BioProtect Ltd. has spun off its orthopedics operations unit and announced a $1 million financing round for the new company, Ortho-Space, at a value of $5 million after money.

US fund AJJS, an investor in BioProtect, is leading the investment in OrthoSpace. Xenia will own 18.4% of the new company.

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