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Hadasit Bio Holdings Raises NIS 11.5m in TASE Offering

Hadasit Bio Holdings Ltd. (TASE:HDST) has raised NIS 11.5 million on the Tel Aviv Stock Exchange (TASE) in a public tender of shares and options that was 150% oversubscribed. The share prices was closed at NIS 1.28, a NIS 0.11 over the minimum price that was fixed. Total demand was NIS 14.5 million.

Hadasit is the technology transfer company of the Hadassah Medical Organization in Jerusalem. The company promotes and commercializes Hadassah's intellectual property and R&D capabilities.

Hadasit CEO Ofir Shahaf said, "In recent months, the company's portfolio companies have shown clinical progress and subsidiaries have agreed strategic and financial partnerships.

In its financial report for the second quarter of 2010, Hadasit recorded its first ever significant profit of NIS 13 million as a result of capital raised by portfolio company ProtAb.

Subsidiary BioMarCare Technologies recently signed a memorandum of understanding for exclusive global commercialization of its drug for the early detection of cancer of the colon using a simple blood test.

Another portfolio company Thrombotech has completed Phase I clinical trials on its treatments for embolic strokes, myocardial infraction and chronic lung disease

 

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