Hadasit Bio-Holdings

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D Pharm Ltd. – Termination of CEO and Other Changes

Nov. 1, 2015

HBL – Hadasit Bio-Holdings Ltd.

(the “Company”)

November 1, 2015

 

To                                                       To

Israel Securities Authority                 Tel Aviv Stock Exchange Ltd.          

www.isa.gov.il                                    www.tase.co.il

 

 

Re: Report – D Pharm Ltd. – Termination of CEO and Other Changes 

 

The Company is announcing that D-Pharm Ltd., a company traded on the Tel Aviv Stock Exchange in which the Company holds a 5.57% stake (hereinafter: “D-Pharm”), reported that further to its immediate report dated October 27, 2015 (reference number: 2015-01-142581), according to which the D-Pharm board of directors resolved that D Pharm would focus its managerial and financial resources on the development of D-Pharm's flagship product, the THR-18, its continued cooperation with Jiahgsu Nhwa Pharmaceutical Co. Ltd. in the development of the DP-VPA product and on the identification of a strategic partner for the further development of D Pharm's products, D Pharm reported that on October 29, 2015 its board of directors resolved as follows:

 

1.      To terminate the engagement of D-Pharm's CEO, Dr. Alex Kozak. Pursuant to his employment agreement, Dr. Kozak is eligible to receive 6 months of salary and associated benefits. As of November 1, 2015, Dr. Kozak will serve on the D Pharm board of directors, in which context he will continue to manage current cooperative ventures with international drug companies and lead other potential strategic cooperative ventures.

2.      To appoint Ms. Ofra Yamin, D-Pharm's CFO, as interim CEO.

3.      To terminate the employment of 5 D Pharm employees.

4.      That D Pharm management should act vis-à-vis D Pharm's suppliers to minimize expenses.    

 

For more information concerning D-Pharm's immediate reports dated October 29, 2015 (reference numbers 2015-01-145086 and 2015-01-145140, respectively).        

 

                                                                                   Sincerely

 

HBL – Hadasit Bio-Holdings Ltd.

      By: Ms. Tamar Kfir, CEO

 
 

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