Li Ka-shing’s Horizons Ventures makes undisclosed investment in Canadian Covid-19 treatment start-up SaNOtize

Name: Live seafood ‘tested’ for Covid-19 in China
Uploaded: 2022-08-24T12:00:28.000Z
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Horizons and Jerusalem-based OurCrowd lead US$24 million Series B funding round

Funding will go towards the expansion of a third-phase clinical trial of a nasal spray aimed at treating and preventing Covid-19

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Horizons, Li’s investment firm, opened an office in May to expand its capabilities for finding new deals and supporting portfolio companies in Asia. Photo: KY Cheng

Eric Ng

Published: 8:00pm, 24 Aug 2022Updated: 2:44pm, 25 Aug 2022

Hong Kong tycoon Li Ka-shing’s private investment arm Horizons Ventures has invested an undisclosed sum of money in Canadian start-up SaNOtize Research and Development to help fund a late-stage clinical trial for its Covid-19 drug candidate.

Horizons and Jerusalem-based online technology ventures investing platform operator OurCrowd have co-led the US$24 millionSeries B round to fund the expansion of a third-phase clinical trial of a nasal spray aimed at tackling the infection. The Israeli firm previously invested US$1 million in March 2020.

“Our clinical and observational studies found [our spray] to be safe and effective at both treating and preventing Covid-19, even amid Delta and Omicron [variant] surges,” Gilly Regev, SaNOtize’s co-founder and CEO, said in a statement on Wednesday.

“We look forward to expanding our clinical research and working towards regulatory approval in the United States and Canada.”

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Live seafood ‘tested’ for Covid-19 in China

Agricultural Bank of China International also took part in the financing round, which will fund the development of the nitric oxide-based nasal spray. The Vancouver-based start-up plans to recruit up to 3,000 participants in Canada and Sri Lanka.