Hadasit Bio-Holdings

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Thrombotech Completes Additional Financing Round of $1.4 million

Jan. 10, 2012

Link to Hebrew immediate report

Hadasit Bio-Holdings Ltd. (TASE:HDST, OTC:HADSY) has announced the following regarding its portfolio company, Thrombotech Ltd.

The company is pleased to announce the completion of an investment round totaling $ 1.4 million in Thrombotech Ltd.

Funds raised through this investment will be used according to Thrombotech’s budget attached to the recent investment agreement (said budget may be modified from time to time by the Thrombotech Board). The budget is primarily focused on conducting a Phase IIa clinical trial in stroke patients - in three medical centers in Israel (Hadassah, Ichilov and Wolfson) as well as at centers in Europe and India.

In addition, Thrombotech is in contact with multi-national pharmaceutical companies in an effort to establish collaborations for the next steps of the clinical development of THR-18 – Thrombotech’s lead product which is used to efficiently treat stroke with increased precision and within an expanded therapeutic window of time.

Hadasit Bio-Holdings will invest a total of 350 thousand dollars, bringing its holdings in Thrombotech, following the investment, to 25% (22% on a fully diluted basis).

The company believes that the new investment funds will help Thrombotech progress toward completion of its clinical trial and enable the advancement of Thrombotech’s business development efforts through the successful completion of its clinical trial proving the efficacy of the product (a clinical trial showing product safety has been successfully completed) and collaborations with pharmaceutical companies.

The above contains forward-looking statements involving certain risks and uncertainties, inter alia, the success of clinical trials, obtaining the required regulatory approvals and access to the required financial resources.

Sincerely,

HBL- Hadasit Bio-Holdings Ltd.

 
 

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