Novolog (Pharm-Up 1966) Ltd (TASE:NVLG) announced a private placement of 40,955,631 common shares at a price ILS 2.93 per share for gross proceeds of ILS 119,999,999 on December 30, 2020. The transaction was led by existing investor Migdal Sal for ILS 31,900,000, along with participation from existing investors Harel Colleagues and The Phoenix Colleagues. The shares represent a stake of 8.12% stake in the company.