Kadimastem - Stem Cell to Cure Diseases

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Kadimastem Successfully Raised NIS 15.6M in Rights Offering

Dec. 17, 2017

Ness Ziona, Israel, 17 December 2017, Israeli biotechnology company Kadimastem (TASE: KDST) announces the successful results of its rights offering. The company raised an amount of NIS 15.6M.

Company stakeholders took part in the rights offering and invested NIS 6.3M, including Prof. Michel Revel, a controlling shareholder, the company's Chief Scientist and a director in the company, and Mr. Julien Ruggeri, a controlling shareholder and a director in the company,.

Yossi Ben-Yossef, CEO of Kadimastem, noted: "We thank the investors for their significant investment in the company. The funds raised pave the way for our first clinical trial in our novel treatment for ALS patients. Kadimastem's technology is considered groundbreaking, and along with the innovative approach that we're offering for ALS treatment, is likely to revolutionize ALS treatment."

The company intends to commence a phase I/IIa clinical trial in ALS patients soon, using the unique cells it had developed. The trial, which will include 21 patients, will be conducted by the Department of Neurology of the Hadassah Ein-Kerem Medical Center, a world-leading center in the field of ALS. The objectives of the trial are testing the safety and efficacy of the company's unique cells in ALS patients.


About Kadimastem

Kadimastem (www.kadimastem.com) is a biotechnology company that specializes in the development of human stem cell-based medical solutions for the treatment of diabetes and neurodegenerative diseases, such as ALS and Multiple Sclerosis. The company was founded in August 2009 by Professor Michel Revel and Yossi Ben Yosef, and is traded on the Tel Aviv Stock Exchange (TASE: KDST). The company's chairman is Dr. Eli Opper, formerly the Chief Scientist of the Israeli Ministry of Industry, Labor and Trade. The company's investors, in addition to the founders, include Altshuler Shaham Investment House, foreign investors (Julien Ruggieri and Avi Meizler), and additional institutional investors.

Kadimastem was founded based on patent protected technology that was developed at the Weizmann Institute of Science. Based on the company's unique platform, Kadimastem is developing two types of medical applications: A. Regenerative medicine, which repairs and replaces organs and tissue by using functioning cells differentiated from stem cells. The company focuses on transplanting healthy brain cells to support the survivability of nerve cells as cell therapy for ALS, and transplanting insulin-secreting pancreatic cells for the treatment of insulin-dependent diabetes; B. Drug screening platforms, which use functional human cells and tissues to discover new medicinal drugs. The company has two collaboration agreements with leading global pharmaceutical companies.

Kadimastem has an extensive scientific advisory board, featuring prominent scientists and pioneers: in the embryonic stem cells field, Professor Benjamin Reubinoff, Director of the Hadassah Human Embryonic Stem Cell Research Center and Senior Physician at the Department of Obstetrics and Gynecology at the Hadassah University Medical Center; Professor Joseph Itskovich, world renowned expert and pioneer in pluripotent stem cell research and former head of Obstetrics and Gynecology at RAMBAM Medical Center; in the neurodegenerative disease field, Professor Tamir Ben-Hur, Head of the Department of Obstetrics and Gynecology at Hadassah University Medical Center; and in the diabetes field, Professor Shimon Efrat, professor of Human Molecular Genetics and Juvenile Diabetes at Tel Aviv University and a world renowned expert in cell replacement therapy for diabetes and Professor Eddy Karnieli, former Director of the Institute for Endocrinology, Diabetes and Metabolism at the RAMBAM Medical Center, and a world renowned expert in these fields.

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