FIMI doubles stake in Kamada with $25m investment

Ishay Davidi

FIMI is increasing its stake in the Israel plasma-derived protein therapeutics company from 9% to 21%.

Ishay Davidi's FIMI Opoortunity Funds (FIMI) announced today that it is investing $25 million in Israeli plasma-derived protein therapeutics company Kamada Ltd. (TASE: KMDA). With the purchase of shares in a private placement, FIMI will increase its stake in the company from 9% to 21%.

Proceeds from the investment will be used to finance the company’s growth plans and execution of strategic business opportunities.

Kamada CEO Amir London said, "We believe that FIMI, a reputable investor with proven abilities and significant financial resources, will support the continued execution of our business development strategy, which is focused on identifying new product opportunities for our manufacturing plant and seeking complementary products via licensing and acquisition. We are committed to creating significant long-term shareholder value and are confident that this strategic financing represents a key achievement towards accomplishing this objective."

FIMI senior partner and former Israel Discount Bank (TASE: DSCT) CEO Lilach Asher Topilsky said, "We are pleased to enhance our commitment to Kamada through this important financing. Our significant investment in Kamada is indicative of our confidence in the Company’s long-term growth prospects, market position, corporate strategy, and competent management team. We believe that Kamada has a great opportunity to build value through its existing product portfolio and a focused business development strategy that could provide new growth opportunities."

Kamada's flagship product is Glassia, the first liquid, ready-to-use, intravenous plasma-derived AAT product approved by the FDA, which is marketed in the US through a strategic partnership with Takeda Pharmaceuticals and in other counties through local distributors.

Kamada’s second leading product is Kamrab, a rabies immune globulin (Human) for Post-Exposure Prophylaxis against rabies infection, which is FDA approved and is being marketed in the U.S. under the brand name KEDRAB and through a strategic partnership with Kedrion S.p.A.

Kamada also has a product line of four other plasma-derived pharmaceutical products administered by injection or infusion, that are marketed through distributors in more than 15 countries, including Israel, Russia, Brazil, India and other countries in Latin America and Asia. Kamada has late-stage products in development, including an inhaled formulation of AAT for the treatment of AAT deficiency, and in addition, its intravenous AAT is in development for other indications, such as GvHD, prevention of lung transplant rejection and type-1 diabetes.

Published by Globes, Israel business news - en.globes.co.il - on January 21, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Ishay Davidi
Ishay Davidi
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