Yigal Erlich has been appointed Chairman of the Board of Directors of Hadasit Bio-Holdings
Israel, Jerusalem, September 1, 2014 – HBL, Hadasit Bio-Holdings (Tel Aviv: הדסת OTC: HADSY), has announced the appointment of Mr. Yigal Erlich as Chairman of the company’s Board of Directors. Dr. Rafi Hofstein, who held the Chairman position until now, continues to serve on the board as a Director.
Yigal Erlich is one of the founding fathers of Israel’s tech industry. Erlich was formerly the head scientist in the Ministry of Industry and Trade. In 1992, Erlich founded the governmental investment fund “Yozma” (“Initiative). “Yozma” was the base for the local venture capital industry, and until today has managed approximately $15 billion, which have been invested in thousands of startup companies in Israel, and which have produced exits worth billions of dollars. Erlich continued to manage “Yozma” even after it was privatized in 1997, and led investments in dozens of startup companies. In the past, he was the Deputy Chairman of the National Council of Research and Development as well as the Chairman of the Board on the European Union’s Euroka program for financial initiative. Mr. Erlich initiated the technological greenhouse program which led to the founding of 24 technological greenhouses in Israel. In addition, he held key positions in founding several partnerships for technological research and development in Canada, France, Holland, Singapore and Spain. In the past, Yigal Erlich held the position of Chairman of the Board of Directors of the BIRD Foundation, the Israel-U.S. Binational Industrial Research and Development Foundation, as well as a Director in both governmental and private companies, the Russian government’s venture capital fund, RVC, and on Hadasit, Hadassah Hospital’s implementation company, where he still serves. Mr. Erlich holds a B.Sc. and M.Sc. in Chemistry and an MBA from the Hebrew University in Jerusalem.
Yigal Erlich’s appointment joins the appointment of Ms. Tami Kfir as CEO of Hadasit Bio-Holdings which was reported in November 2013. Kfir has much experience in the venture capital field an in activities in the Eastern markets.