Israeli-based NeuroQuest Receives SCRA Technology Ventures Funding

SCRA Technology Ventures has closed two rounds of funding on its first Israeli investment, NeuroQuest, an Israeli biotech company. NeuroQuest's clinical development center will be located in the Roper St. Francis Clinical Biotechnology Research Institute (CBRI) in Charleston.

NeuroQuest has developed immune-based biomarkers in patients with both ALS (Lou Gehrig's) and Alzheimer's disease. The biomarkers measure unique aspects of the immune system that reflect the disease pathology and can be used for diagnosis, prognosis, and monitoring disease progression.

NeuroQuest becomes the fourteenth company to enter South Carolina through an SCRA investment and the first as a direct result of the SC--Israel Economic Development Mission.

"South Carolina has a wonderful business environment and we thank SCRA, SC Launch and Roper St. Francis for their support," said NeuroQuest CEO Dan Touitou "We look forward to being a part of South Carolina's knowledge economy and bringing quality diagnostic and therapeutic technologies to expanded markets."

The SC Launch investment follows recent funding led by the North Charleston-based InterTech Group, and the Maryland/Israel Trendlines Fund, managed by the Baltimore- based Maryland/Israel Development Center. Seed financing for NeuroQuest was provided by the Trendlines Medical - Misgav incubator and Israel's Office of the Chief Scientist.

The company was recruited through a collaboration of South Carolina business leaders who traveled abroad to Israel to build business relationships and recruit industries to the state. The SC--Israel Economic Development Mission aims to stimulate business and research partnerships between companies and universities in South Carolina and Israel as a way to generate economic development, jobs, and investments.

Jonathan Zucker, a founder of the SC--Israel Collaboration and president of the InterTech Group, Inc., said that NeuroQuest's work "could be a major game-changer" in the field of research for treatment of ALS and Alzheimer's.

"We are delighted to welcome NeuroQuest to South Carolina," said SCRA CEO Bill Mahoney. "This is the first of many possible positive outcomes of the S.C.-Israeli mission. It is through collaborative efforts of all involved in this mission that this meaningful technology company comes to South Carolina, and we look forward to the contributions NeuroQuest will bring to our local economy and for those with Alzheimer's and ALS."

SCRA Technology Ventures helps innovative companies grow and develop new technologies, creating jobs and advancing the knowledge economy throughout the state. The SCRA business sector provides support and mentoring program to early stage, start-up technology companies through its SC Launch division.

Since 2006, SCRA has deployed more than $79 million in funding and infrastructure to support more than 280 high-tech, early-stage enterprises and has directly invested nearly $18 million in South Carolina start-ups, which has attracted more than $260 million in private investment. SCRA Technology Ventures also supports commercialization and growth by facilitating the transfer of intellectual property and accelerating the transition of inventions to the marketplace.