The money will be used to enter the US and European markets.
Biopharmaceutical company Kamada Ltd. (TASE:KMDA) has signed an agreement to raise $7 million from its founder Ralph Hahn and a new investment group UDT Med Holdings.
The investment was made at a premium of 26.2% on the average price per company share in the 45 days before the deal was implemented.
Kamada CFO Eyal Leibovitz said, "The resources that we are raising will enable us to speed up and advance our entry into the US and European markets on the basis of strategic cooperation that is likely to bear fruit in 2009."
Kamada CEO, president and co-founder David Tsur said that the company recently completed Phase III clinical trials for hereditary AAT deficiency, and Phase II trials for a treatment of cystic fibrosis.
Published by Globes [online], Israel business news - www.globes-online.com - on February 24, 2009
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