Vincent Tchenguiz Now Investing In Biotech

Property tycoon Vincent Tchenguiz’s latest investment outside the property world is in biotechnology, it is reported.

Tchenguiz is said to be investing $7 million (about £5.5m) in BioProtect Ltd. Israel-based BioProtect has developed a proprietary technology platform for biodegradable balloons which can be used to protect healthy tissue from radiotherapy during the treatment of prostate cancer.

With the product already launched in Europe it is reported that this latest funding round will help finance clinical trials so that the product can be marketed in the US.

It is always interesting to see how super-rich property tycoons invest their money going forward. And Vincent Tchenguiz – who together with his brother Robert have been reported as owning a property portfolio worth £4.5bn at its height – seems to be developing something of reputation for investing in emerging technology of late.

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Source Globes
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