FIMI Opportunity Funds, headed by founder Ishay Davidi, has bought 12% of the shares in Kamada Ltd. (TASE: KMDA; Nasdaq: KMDA)) for $30 million, making it the largest shareholder in the company. The deal took place at the market price, reflecting a $240 million valuation for the company. FIMI bought the shares from Brosh Capital Partners, Leon Recanati, and Jonathan Hahn.
Kamada, a biotechnology company, is dual-listed on the Tel Aviv Stock Exchange and Nasdaq. The company develops, manufacturers, markets, and sells medical products based on patent-protected advanced technology for purifying and separating proteins from human plasma.
Kamada has a number of activity spheres, among them manufacturing of Alpha-1 antitrypsin (AAT) and production of other proteins (immunoglobulins) from plasma. Kamada's flagship product is Glassia, the first liquid AAT product ready for intravenous use and made from human plasma. The US Food and Drug Administration (FDA) has approved Glassia, which is used for treatment of hereditary emphysema caused by a genetic defect resulting in a lack of ATT in the body. Kamada markets Glassia in the US through a strategic partnership with international company Takeda, and in other countries through local distributors.
FIMI, founded in 1996, is Israel's first and largest private equity fund, with over $5 billion in managed assets. The fund acquires control of companies and enhances them. FIMI has acquired control of 90 companies to date, and has sold 60 of them in deals totaling over $5.5 billion.
Published by Globes, Israel business news - en.globes.co.il - on November 21, 2019
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