Moshe (Mori) Arkin has bought the 14.9% stake of Hadasit - the Technology Transfer Company of Hadassah Medical Organization in Exalenz Bioscience Ltd. (TASE:EXEN), ahead of its rights issue tomorrow. Arkin, Exalenz's largest shareholder with a 38.6% stake, has already said that will exercise his full rights in the offering.
Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL), which owns 16% of Exalenz, will also exercise its full rights in the offering. Between Arkin and Migdal, Exalenz already has NIS 13.9 million in commitments in the NIS 20 million it hopes to raise in the rights offering.
In the presentation to investors, Exalenz said that, since the launch of its BreathID diagnostic kits for the H. pylori bacteria for stomach ulcers seven months ago, 28 kits have been installed at US hospitals.
Exalanz plans to use proceeds from the offering to develop is plan for the H. pylori diagnostic kits for liver function and fatty liver, and in the future, possibly for pancreatic function.
Exalenz's share price rose 1.2% today to NIS 0.91, giving a market cap of NIS 98 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 15, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011