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:7/20/2017)... July 20, 2017   KCNQ2 Cure Alliance ... evaluations company, today announced that they have completed ... genetic mutation implicated in KCNQ2 epileptic encephalopathy. They ... a second case involving an additional KCNQ2 genetic ... Alliance and Pairnomix entered into a collaboration to ...
(Date:7/20/2017)... ... July 20, 2017 , ... ... clinical trial sites and study participants truly unified. TrialKit, a native mobile app, ... CFR Part 11) research studies entirely on mobile devices. With TrialKit, clinical researchers ...
(Date:7/18/2017)... ... July 18, 2017 , ... Sourcing custom glass or quartz parts ... has the capabilities to properly execute your job can take many hours of emails, ... a sourcing portal designed to showcase the company’s capabilities and core custom categories, and ...
(Date:7/18/2017)... ... July 18, 2017 , ... G-CON today announced ... Trademark Office for its Patent Applications 14/858,857 and 13/669,785 both entitled Modular, Self-Contained, ... applications further expand the protection of G-CON’s R&D investments and validate the G-CON ...
Breaking Biology Technology:
(Date:5/16/2017)... , May 16, 2017  Veratad Technologies, LLC ... of online age and identity verification solutions, announced today ... Identity Conference 2017, May 15 thru May 17, 2017, ... Building and International Trade Center. Identity ... globe and in today,s quickly evolving digital world, defining ...
(Date:4/19/2017)... April 19, 2017 The global ... landscape is marked by the presence of several large ... held by five major players - 3M Cogent, NEC ... accounted for nearly 61% of the global military biometric ... in the global military biometrics market boast global presence, ...
(Date:4/13/2017)... According to a new market research report "Consumer ... Administration, and Authorization), Service, Authentication Type, Deployment Mode, Vertical, and Region - ... to grow from USD 14.30 Billion in 2017 to USD 31.75 Billion ... ... MarketsandMarkets Logo ...
Breaking Biology News(10 mins):