Navigation Links
Hadasit Bio-Holdings Ltd. Portfolio Companies - ProtAb Ltd. and KAHR Medical Ltd. to Receive NIS 10.7 Million (Over $2.8 Million USD) in Additional Government Grants
Date:1/28/2013

JERUSALEM, Jan. 28, 2013 /PRNewswire/ -- Hadasit Bio-Holdings Ltd. (TASE: HDST, OTC: HADSY) and its portfolio companies ProtAb Ltd. ("ProtAb") and KAHR Medical Ltd. ("KAHR") announced today that they will receive additional funding of NIS 10.7 million (over $2.8 million USD) by the Israeli Ministry of Industry and Commerce, Office of the Chief Scientist (OCS) to support product development and advance clinical trials.

ProtAb received approval for two programs totaling NIS 5.75 million (over $1.5 million USD) at a financing rate of 30% to 50%. The company is developing a novel approach for the treatment of autoimmune diseases based on a biological drug that activates the body's natural anti-inflammatory pathways. This is in contrast to the conventional approach of depressing inflammatory pathways which causes serious side effects and has limited efficacy.

KAHR received approval for two programs totaling NIS 4.95 million (over $1.3 million USD) also at a financing rate of 30% to 50%. The company is developing a platform technology known as SCP (Signal Converter Proteins) enabling the creation of protein based drugs with two active sites, affecting two biological pathways simultaneously with a synergistic effect, providing a distinct advantage over current drugs which have only one active site.

CEO of Hadasit Bio-Holdings, Ophir Shahaf stated, "We are very pleased with the recent grant approvals. Direct funding to our portfolio companies year after year is a vote of confidence and an expression of faith by an external professional agency in our quality of science and management. This additional external financing, which does not dilute the existing shareholders, will allow ProtAb and KAHR to advance towards clinical trials. We are confident that as these companies, as well as the other portfolio companies already in clinical trials advance and report on their successes, we will continue to create value for our share holders."

About Hadasit Bio Holdings
Hadasit Bio-Holdings Ltd., established in 2006, is the publicly traded subsidiary of Hadasit Ltd. - the technology transfer company of the Hadassah University Hospital, Israel's foremost medical research center. The Company was established for the purpose of promoting and commercializing the intellectual property and R&D capabilities generated by Hadassah.

Hadasit Bio-Holdings focuses on advancing companies that are past successful preclinical trials and close to completion of Phase I/II clinical trials. Its portfolio companies develop drugs with blockbuster potential (with markets worth over one billion dollars) and operate in the fields of cancer, inflammatory diseases and tissue regeneration using stem cells - areas in which the Hadassah Hospital has extensive knowledge and recognition as a global leader.

HADSY is the domestically traded ADR of Hadasit Bio-Holdings, a public investment vehicle representing a portfolio of biotech companies, all based on inventions developed at Hadassah. These include ProtAb Ltd. and KAHR Medical, in whom Hadasit Bio-Holdings hold a 70% position and 65% position, respectively.

For more information please visit: www.hbl.co.il

For more information on ProtAb please visit: ProtAb

For more information on KAHR please visit: www.kahr-medical.com

Investor Contact:
KCSA Strategic Communications
Phil Carlson / Josh Dver
212.896.1233 / 1239
pcarlson@kcsa.com / jdver@kcsa.com

 


'/>"/>
SOURCE Hadasit Bio-Holdings Ltd.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Hadasit Bio-Holdings Ltd. Reports Significant External Financing for Portfolio Companies
2. KAHR Medical, a Hadasit Bio-Holdings Portfolio Company, to Raise $2.6 Million
3. Hadasit Bio-Holdings Interviewed by Wall Street Reporter
4. CMC Biologics Strengthens its Innovative Biomanufacturing Technology Portfolio in Continuous Perfusion Systems
5. QIAGEN Acquires AmniSure International to Add Unique Assay to Emerging Point of Need Portfolio
6. Life Technologies Signs Licensing Agreement with iPS Academia Japan for Global Patent Portfolio Rights to Induced Pluripotent Stem Cell Technology
7. Genomic Vision Extends its Patent Portfolio With the Genomic Morse Code
8. Medical Marijuana, Inc. Portfolio Company PhytoSPHERE Systems Announces Successful Production of Hemp Harvesting for High Value CBD Oil
9. Synthetic Genomics Inc. Purchases Patent Portfolio from Febit Holding GmbH
10. Medical Marijuana, Inc. Portfolio Company CanChew BioTechnologies Inc. Updates and Expands Free Product Trial
11. LABS, Inc. Among Colorados Top Private Companies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/22/2016)... DIEGO , June 22, 2016 ... that will allow them to produce up to ... from one lot within one week. These high-quality, ... time laboriously preparing cells and spend more time ... possible through a proprietary, high-volume manufacturing process that ...
(Date:6/22/2016)...   StockNewsNow.com , The Official MicroCap News Source™, ... Nader Pourhassan , President & CEO of CytoDyn Inc. ... development and potential commercialization of humanized monoclonal antibodies for ... the company,s website (see here: www.CytoDyn.com ). The ... , 2016, at the LD Micro Invitational in ...
(Date:6/22/2016)... ... ... New light-based technologies that facilitate a “look inside” the human body using ... wearable devices for point-of-care diagnostics as well as powerful new systems that provide even ... future directions are detailed in a new open-access article by Antonio Pifferi and colleagues ...
(Date:6/22/2016)... ALBANY, N.Y. , June 22, 2016 /PRNewswire/ ... Research, Inc. (NASDAQ: AMRI ) today ... produce and sell the first commercially available cannabichromene ... is manufactured using Teewinot,s patented biosynthetic processes. Teewinot,s ... genes in microorganisms for efficient production of large ...
Breaking Biology Technology:
(Date:3/31/2016)... March 31, 2016   ... or the "Company") LegacyXChange is excited to ... its soon to be launched online site for trading ... ) will also provide potential shareholders a sense ... technology to an industry that is notorious for fraud. ...
(Date:3/23/2016)... 23, 2016 ... Gesichts- und Stimmerkennung mit Passwörtern     ... MESG ), ein führender Anbieter digitaler ... mit SpeechPro zusammenarbeitet, um erstmals dessen Biometrietechnologie ... die Möglichkeit angeboten, im Rahmen mobiler Apps ...
(Date:3/21/2016)... -- Unique technology combines v ...   Xura, Inc. (NASDAQ: ... communications services, today announced it is working alongside SpeechPro ... particularly those in the Financial Services Sector, the ability ... a mobile app, alongside, and in combination with, traditional ...
Breaking Biology News(10 mins):