Phoenix Group and Arkin Holdings announced a Strategic Collaboration Agreement for investment in pharma and biotech companies, for a total of approximately $60 Million (with an option to increase the investment in the future). The new partnership, 'Arkin Bio-Ventures' (51% Arkin Holdings and 49% Phoenix) aims to invest in companies that develop promising innovative pharmaceuticals in pre-clinical and more advanced stages, both in Israel and globally. The joint venture will expand Phoenix's investment and return opportunities in private pharma companies, in Israel and worldwide. Phoenix believes that leveraging its financial resources and capabilities, along with the well-recognized specialized pharma expertise of Arkin Holdings will provide the Phoenix group an access to significant lucrative investments and involvement in a variety of promising pharma companies.

Dr. Pini Orbach, Head of Pharma at Arkin Holdings, will manage the Partnership. On behalf of Phoenix, Mr. Elad Givoni, Head of Private Equity, led the venture.