Procognia plans IPO on TASE

Biotech company, Procognia-Israel, has filed to list on the Tel Aviv Stock Exchange, the company said Wednesday.

Biotech company, Procognia-Israel, has filed to list on the Tel Aviv Stock Exchange, the company said Wednesday. The company specializes in life-science technology, particularly in the development of carbohydrate analysis products that can be used for the production of biopharmaceuticals. Although it has not yet decided on the structure or scope of its offering, the company is earmarking proceeds from the expected IPO for marketing its flagship products including the GlycoScope and the Qproteome GlcycoArray. Procognia's UK-based parent company has shareholders that include APAX Partners Investment Fund, the Evergreen Venture Capital Group, Koor, Vitalife and Star Ventures Capital Funds. Procognia-Israel is based out of Ashdod and employs 25 people.