BiomX, one of Israel’s most promising biotechnology companies, filed an urgent request with the Central District Court on Tuesday seeking authorization to initiate insolvency proceedings. The move follows the termination of its main clinical trial and the absence of funding sources to continue operations. The company’s debts are estimated at at least NIS 11 million (approximately $3.4 million).
Founded in 2015, BiomX develops cocktails of natural viruses designed to attack and destroy harmful bacteria that cause chronic diseases, without disrupting beneficial neighboring bacteria. The filing states that the parent company, BiomX Inc., has invested hundreds of millions of dollars into the Israeli subsidiary over the years.
According to…