CPA firm Kesselman & Kesselman launching special firm to handle life-science startups

LTS will help startups avoid regulatory mistakes that cost dearly later on, says CPA
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CPA firm Kesselman & Kesselman, a member of the PricewaterhouseCoopers international group, today announced that it has established a company to support endeavors in the life sciences.

The new company, Life-sciences Transaction Support, will manage private placements and financing activities for Israeli firms involved in the life sciences. The law offices of Doron Cohen and David Cohen are also partners in the initiative.

LTS specializes in locating life-sciences startups, such as companies engaged in medical technology, pharmaceuticals, biotechnology, and medical services. LTS will assist the companies in funding and locating possible partners, as well as finding strategic investors abroad.

LTS says it will invest resources in conducting due diligence for potential customers on both the scientific and medical aspects of their project. It will examine commercial and financial merits, and relate to tax and legal implications.

According to CPA Claudio Yarza, the Kesselman partner in charge of Life Sciences, LTS is basing its services on the experience and knowledge that Kesselman has acquired over the years working with leading companies such as

Teva Pharmaceuticals

(Nasdaq:TEVA), Interpharm Laboratories, and

Pharmos Corporation

(Nasdaq:PARS; Easdaq:PHRM).

In meetings with investors entrepreneurs have one chance to present their baby. Screening the project with LTS experts beforehand will help status sharpen their presentation and clarify crucial issues in advance, Yarza says.

Yarza added that the special characteristics of the life science sector require a dedicated service provider. Mistakes in the regulatory process have extracted heavy tolls from many a company. These are avoidable errors that can lead to a premature closure of a firm, Yarza says.

CEO Avner Lushi says LTS is negotiating funding on behalf of several life science startups with local and international investors.