Pitango Venture Capital, a leading venture capital firm in Israel, today announced that Ittai Harel has been appointed as a Venture Partner. Mr. Harel is a veteran of the life sciences industry. He has fifteen years of experience in this field covering a wide range of activities, from basic business and technology development to corporate executive management, in areas such as pharmaceutical development, drug delivery, medical devices and diagnostics.

Before joining Pitango, Mr. Harel was Director of Corporate Development at Nektar Therapeutics (NASDAQ: NKTR) where he was responsible for strategic planning, in-licensing and M&A activities. Prior to his period with Nektar, Mr. Harel held various management positions at large companies both in Israel and in the U.S. including IDEXX Laboratories (NASDAQ: IDXX) and IDGene Pharmaceuticals.

Mr. Harel has a B.Sc. in Chemical Engineering and Biotechnology from Ben Gurion University, as well as an MBA from the MIT Sloan School of Management.

“Ittai brings vast industry experience, technological expertise and business acumen in the life sciences industry to Pitango,” says Rami Kalish, Managing General Partner and Co-Founder. “His proven capabilities and hands-on experience in development and commercialization of successful products will be a valuable asset to our life science sector.

“With Ittai on board, we have added to the breadth of our team of investment professionals in the Life Sciences sector. This further supports and demonstrates Pitango’s long term commitment to the sector” adds Rami Kalish.

“I am delighted to be joining the exceptional team of Pitango”, says Ittai Harel. “I look forward to being part of the talented life sciences team and to actively contribute to the development and success of our portfolio companies.

About Pitango Venture Capital

Pitango Venture Capital, the leading venture capital firm in Israel, has been investing in technology entrepreneurs since 1993. With offices in Israel, and Silicon Valley, California, Pitango currently manages several venture funds totaling over $1 billion in committed capital invested in more than 100 companies. Pitango invests in high growth companies in seed and early stages, supporting them as they grow. Pitango focuses on the IT/Communication sectors, as well as in Life Sciences, including Medical Devices and Biotech. More information about Pitango is available at: www.pitango.com