The companies are Tolarex, ProtAb, Kahr Medical, Verto and InCure.
Hadasit Bio Holdings Ltd. (TASE:HDST) will invest $1.8 million in five portfolio companies, as follows:
- $500,000 in Tolarex Ltd. for the development of its products for clinical trials;
- $500,000 in ProtAb Ltd. for the conversion of an antibody to treat humans;
- $500,000 in Kahr Medical Ltd., as part of Hadasit Bio’s $750,000 commitment to the company;
- $200,000 in Verto Ltd. for Phase I clinical trials, which are now beginning;
- $100,000 in InCure Ltd. for the development of the companies products.
Hadasit Bio managing director Dr. Raphael Hofstein said, “We’re fostering and investing in all nine of our portfolio companies. Our investments will speed up the companies’ entry into more advanced stages through consolidation and expansion of their R&D infrastructure, patent protection, and a managing team for each company. We expect Verto to complete the trials already begun within a few months and arrange strategic cooperation for its product. We believe that two other portfolio companies will begin Phase I clinical trials this year.”
Hadasit is a subsidiary of Hadassah Medical Organization technology application arm Hadasit Medical Research Services and Development Ltd. Last week, Hadasit Bio’s shareholders injected $5 million into the company to finance further development of its portfolio companies.
Published by Globes [online], Israel business news - www.globes.co.il - on February 25, 2007
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