The Israel biotech entrepreneur. (Haim Aviv)

Rumanian-born biochemistry professor Haim Aviv is a firm believer in the idea that science is not merely a cultural pursuit, but a practical one that must justify itself financially. After isolating a cattle-growth hormone, he established Bio Technology General in 1980 and since then has been Israel's most prominent, if not only, biotechnology-driven entrepreneur.

Typically, Aviv's companies are founded around a particular project or type of activity. For example, Pharmos, whose U.S. parent company is currently offering shares in New York, is actively engaged in what is called "drug delivery," which has attracted pharmaceutical firms around the world. Research and …