Hadasit Bio-Holdings

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Cell Cure, Enlivex and KAHR Medical to Receive NIS 12 Million (Over $3.4 Million USD) in Additional Government Grants

Dec. 24, 2013

Cell Cure - approved for NIS 6.09 million (over $1.7 million USD), KAHR - approved for approximately NIS 4 million (over $1.1 million USD) and Enlivex - approved for approximately NIS 2 million (over $0.55 million USD).

See link for Hebrew report 

The three portfolio companies will receive additional funding in a total sum of NIS 12 million (over $3.4 million USD) by the Israeli Ministry of Industry and Commerce, Office of the Chief Scientist (OCS) to support product development and advance clinical trials.

 

Cell Cure received approval for two programs totaling NIS 12.05 million (over $3.4 million USD) at a financing rate of 30% to 60%. These programs are designed to complete the development of the company's lead product – Opregen, including  safety and efficacy trials (FDA IND-enabling studies) as well as official regulatory registrations with government agencies to enable the start of the clinical trial. Both approvals are under the condition that all intellectual property to be filed following the approval date will be registered in the name of Cell Cure alone -without partnering with academic institutions.

 

KAHR received approval for two programs totaling NIS 10.18 million (over $2.9 million USD) at a financing rate of 30% to 60% to further support the development of KAHR’s products KAHR 101 and KAHR 102, by performing toxicity studies and GMP drug manufacturing for use in its first clinical trial.

 

Enlivex received approval for a program totaling NIS 3.3 million (over $0.9 million USD) at a financing rate of 60%. The approved program is to support the ApoCell product development for the treatment of graft versus host disease (GvHD) and studies on other diseases.

These approvals represent a significant vote of confidence in the portfolio companies’ potentials and provide financial support. However, they do not guaranty that the development plans are completed successfully or that the medical products reach the market.

 

 
 

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