Ebb & Flow

Israeli life sciences investment group Clal Biotechnology Industries has acquired another Israeli VC, Biomedical Investments, for NIS84 million ($23 million), of which $7.5 million was cash, along with 3 million shares and 1.25 million warrants.

Arte Venture Group manages both firms. Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) has a minority interest in both: 15% in Clal and 33% in Biomedical Investments...