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Hadasit Bio-Holdings Ltd. Portfolio Company - Cell Cure Neurosciences Ltd. Received Additional Government Support
Date:5/23/2013

JERUSALEM, May 23, 2013 /PRNewswire/ -- Hadasit Bio-Holdings Ltd. (TASE: HDST, OTC: HADSY), a publicly traded portfolio of biotech companies, based on intellectual property developed and owned by Hadassah University Hospital, Israel's foremost medical research center, today announced that its portfolio company, Cell Cure Neurosciences Ltd., received significant funding from the Israeli Ministry of Industry and Commerce, Office of the Chief Scientist (OCS) to support product development and advance clinical trials. Cell Cure's development budget totaling NIS 11.5 million (over $3 million USD) was approved for a grant of close to 50% financial support.

CEO of Hadasit Bio-Holdings, Ophir Shahaf , stated, "We are very pleased with the recent grant approvals. This substantial government support, particularly at a time of cut backs in government spending, is a vote of confidence and an expression of faith. The OCS conducted a rigorous evaluation of Cell Cure's scientific, managerial and potential. The financial support will fund up to 60% of certain aspects of the company's activities. Cell Cure is at the forefront of the regenerative medicine field with stem cell therapies posing as the promising future of medicine, attracting worldwide scientific reviews and substantial investments. Using the unique cell lines, directed differentiation process and controlled growth developed by the company, it can cause the cells to differentiate into various cells - cells that could literally replace the damaged cells in the human body in a wide range of diseases."

Mr. Shahaf continued, "In the coming year, we intend to initiate clinical trials in Israel and the U.S. to evaluate the safety and efficacy of Cell Cure's treatment for dry-AMD, OpRegen®. Age-related macular degeneration (AMD), is an eye disease that causes retinal degeneratio
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SOURCE Hadasit Bio-Holdings Ltd.
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