Navigation Links
Hadasit Bio-Holdings Ltd. Reports Significant External Financing for Portfolio Companies
Date:12/1/2011

NEW YORK, Dec. 1, 2011 /PRNewswire/ -- Hadasit Bio-Holdings, Ltd. - (OTCBB: HADSY), a publicly traded portfolio of biotech companies, all based on intellectual property developed and owned by the Hadassah University Hospital, Israel's foremost medical research center, announced that three more of its portfolio companies have received grant approvals from the Israeli Office of the Chief Scientist (OCS) in the Ministry of Industry, Trade and Labor.

These approvals come in addition to the grant received earlier this year and bring total government support to over 10M NIS (2.7M USD) for 2011 alone. These grants are intended to cover nearly 60% of the R&D financing needs of specific projects in ProtAb, Enlivex, BioMarCare and CellCure. The Israeli OCS grants are NOT equity based and are returned based on revenue generated from the ultimate success of the supported projects.

"These recent grant approvals come as an additional vote of confidence not only in the companies themselves, their technology and management but also in the Hadasit Bio-Holdings' business model as a whole," stated Ophir Shahaf, Hadasit Bio-Holdings' CEO. "The OCS funding is an external recognition of the great potential our portfolio companies have. These grants provide significant financial leverage for the investments made by Hadasit Bio-Holdings in our portfolio companies."

The 2011 grants are mostly follow-up grant approvals for projects that have previously received grants. As the companies advance and achieve their milestones it is believed that additional grants can and should be expected. This continued government support reflects on the companies' scientific excellence, financial stability and the importance of their research and development projects.

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.

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.

Hadasit Bio-Holdings focuses on advancing companies that are past successful preclinical trials and close to completion of Phase I/II clinical trials. The portfolio companies develop drugs with blockbuster potential (markets that are worth over a 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.

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

Investor Contact
KCSA Strategic Communications
Jeff Corbin / Rob Fink
jcorbin@kcsa.com / rfink@kcsa.com
(212) 896-1206


'/>"/>
SOURCE Hadasit Bio-Holdings, Ltd.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Summary Letter to Hadasit Bio-Holdings Ltd. Shareholders
2. Hadasit to Present at the Rodman & Renshaw Annual Global Investment Conference on September 13, 2011
3. Clinical Developments at Enlivex Therapeutics - a Hadasit Bio-Holdings Portfolio Company
4. WaferGen Reports Third Quarter 2011 Financial Results and Announces New Commercialization Strategy
5. SeraCare Reports Fiscal Year 2011 and Fourth Quarter Financial Results
6. Palatin Technologies, Inc. Reports First Quarter Fiscal Year 2012 Results; Teleconference and Webcast to be held on November 15, 2011
7. Pharmasset Reports Fiscal Year End 2011 Financial Results
8. Nile Therapeutics Reports 2011 Third Quarter Financial Results
9. Cell Therapeutics, Inc. Reports Results of Annual Meeting of Shareholders
10. Interleukin Genetics Reports Third Quarter 2011 Financial Results
11. Verenium Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2011
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)...  Bioethics International, a not-for-profit organization focused on the ethics ... made accessible to patients around the world, today announced that ... publication of the Good Pharma Scorecard an ... as one of BMJ Open ,s ,Most Popular Articles, ... most frequently read. Ed Sucksmith , assistant editor ...
(Date:2/11/2016)... Florida , February 11, 2016 ... PositiveID Corporation ("PositiveID" or "Company") (OTCQB: PSID), a ... announced today that its Thermomedics subsidiary, which markets ... on its growth plan in January 2016, including ... distributors, increasing sequential monthly sales growth, and establishing ...
(Date:2/10/2016)... - BioAmber Inc. (NYSE: BIOA ), a leader ... & Co. Ltd., its partner in the ... an additional CDN$25 million in the joint venture for ... to 40%.  Mitsui will also play a stronger role ... Sarnia , providing dedicated resources alongside BioAmber,s ...
(Date:2/10/2016)... (PRWEB) , ... February 10, ... ... REGN) today announced that it has joined the Human Vaccines Project, a ... infectious diseases and cancer. , The Human Vaccines Project brings together ...
Breaking Biology Technology:
(Date:2/2/2016)... NEW YORK , Feb. 2, 2016 /PRNewswire/ ... Potentials of that Rising Market Are you ... new analysis forecasts revenues for checkpoint inhibitors. Visiongain,s ... world market, submarket, product and national level. ... Instead discover what progress, opportunities and revenues those ...
(Date:2/2/2016)... 2016   Parabon NanoLabs (Parabon) announced ... Research Office and the Defense Forensics and Biometrics ... the company,s Snapshot Kinship Inference software ... generally, defense-related DNA forensics.  Although Snapshot is best ... and ancestry from DNA evidence), it also has ...
(Date:2/1/2016)... Canada , February 1, 2016 ... technological advancements to drive global touchfree intuitive gesture control ... --> Rising sales of consumer electronics coupled ... gesture control market size through ... consumer electronics coupled with new technological advancements to drive ...
Breaking Biology News(10 mins):