Drug development co Kamada raises $15m on Nasdaq

Kamada

Based in Rehovot, Kamada is a plasma-derived protein therapeutics company focused on orphan indications.

Israeli drug development company Kamada Ltd. (TASE: KMDA; Nasdaq: KMDA) has raised $15 million in a secondary offering on Nasdaq at $4.50 per share. After the offering the share price fell by 13%, giving the company a market cap of $169.25 million.

Based in Rehovot, Kamada is a plasma-derived protein therapeutics company focused on orphan indications.

Cantor Fitzgerald & Co. was the sole book-running manager for the offering. Raymond James, Oppenheimer & Co., Ladenburg Thalmann and Chardan acted as co-managers for the offering.

Kamada will use the net proceeds from the offering for general corporate purposes, including a Phase III study in the US for Inhaled AAT for AATD upon US Food and Drug Administration (FDA) approval and a Phase II/III study with AAT (IV) for the treatment of GvHD in Europe and in the US upon receipt of the relevant regulatory approvals and in-licensing of marketed products or technologies.

Published by Globes [online], Israel business news - www.globes-online.com - on July 30, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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