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.