A leading industrialist and a British investment firm were recognised for their work in promoting trade between Britain and Israel this week.

Isaac Kaye was given a lifetime achievement award at the British Israeli Business dinner on Wednesday, in honour of his career in the pharmaceutical industry. South African-born Mr Kaye trained as a chemist before developing the Norton Healthcare company.

Investment firm Grovepoint Capital, founded by Leon Blitz and Bradley Fried, was named UK company of the year. The firm has put an estimated $50 million into an Israeli project developing powerful antioxidants for human consumption.

IT firm Ness Technologies, with headquarters in Tel Aviv, was named Israeli company of the year.

Marc Worth, chairman of UK Israel Business, said “Tonight was a wonderful evening showing the very best of what UK Israel Business can offer.”

Guests at the dinner included two outgoing central bank governors, the Bank of England’s Sir Mervyn King and the Bank of Israel’s Professor Stanley Fischer.