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:2/4/2016)... , Feb. 4, 2016 ContraVir Pharmaceuticals, Inc. ... the development and commercialization of targeted antiviral therapies, announced ... Investor Conference 2016, to be held February 8-9, 2016, ... Group,s 2016 Disruptive Growth & Healthcare Conference, taking place ... 10-11, 2016. James Sapirstein , Chief Executive ...
(Date:2/4/2016)... February 4, 2016 Strasbourg, France ... Inc. --> Strasbourg, France , to ... PharmaVentures is pleased to announce that it acted as ... manufacturing unit in Strasbourg, France , to ... --> --> Transgene (Euronext: TNG), a ...
(Date:2/3/2016)... 3, 2016  With the growing need for ... is underway, therapies such as monoclonal antibodies, recombinant ... host of indications are in high demand. Conventionally ... development and production of these therapeutics. However, due ... high costs, novel approaches and novel expression systems ...
(Date:2/3/2016)... ... February 03, 2016 , ... Aerocom, a world-leading supplier of ... North American healthcare market. , Aerocom Healthcare, LLC will be based in Denver, ... provide new pneumatic tube systems or expand existing systems within the U.S. and ...
Breaking Biology Technology:
(Date:1/20/2016)... MINNETONKA, Minn. , Jan. 20, 2016   ... that supports the entire spectrum of clinical research, is ... in 2015. MedNet,s significant achievements are the result of ... of) iMedNet eClinical , it,s comprehensive, ... --> --> Key MedNet growth ...
(Date:1/13/2016)... ALBANY, New York , January 13, 2016 /PRNewswire/ ... Transparency Market Research has published a new market report ... Share, Growth, Trends, and Forecast, 2015 - 2023. According to ... mn in 2014 and is anticipated to reach US$1,625.8 ... from 2015 to 2023. In terms of volume, the ...
(Date:1/8/2016)... and MANCHESTER, United Kingdom , ... a developer of innovative sensor-based diagnostic products, today announced the ... by new and existing investors.  Proceeds from the financing will ... Scanner , a hand-held device for detecting early-stage pressure ulcers. ... Ireland after receiving CE Mark approval. The ...
Breaking Biology News(10 mins):