KAHR Medical will use the proceeds to finance a human clinical trial on its treatment for lymphoma in early 2014.
KAHR Medical Ltd. has raised $2.35 million at a company value of $13.2 million, before money. All of the company's shareholders participated in the round, including Hadasit Bio Holdings Ltd. (TASE:HDST; Bulletin Board: HADSY) and France's Sanofi SA (Euronext: SAN; NYSE: SNY). Hadasit Bio's stake in the company will be diluted from 50% to 49%, as a result of the new financing.
KAHR Medical is developing treatments for cancer and inflammatory diseases. The company plans to begin a human clinical trial on its treatment for lymphoma in early 2014 and will use the proceeds from the round to finance the trial.
Published by Globes [online], Israel business news - www.globes-online.com - on September 9, 2013
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