Bonus BioGroup Ltd. (BONS) surged to its highest level in more than 11 months after the biotechnology company raised funds from private investors.

The shares jumped 22 percent to 0.575 shekel, the highest since July 19, at the close in Tel Aviv. That gave the company a market value of 682 million shekels ($173 million).

Bonus BioGroup said it raised 4 million shekels from private investors for a 6.27 percent stake in the company at a price of 0.48 shekel a share.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net