Kadimastem - Stem Cell to Cure Diseases

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2018 Israel Innovation Authority Budget Approved for Kadimastem:

Apr. 1, 2018

Ness Ziona, Israel, 1 April 2018, Israeli biotechnology company Kadimastem (TASE: KDST) announces that it has received approval for its annual budget from the Israel Innovation Authority, in the amount of NIS 10.4M, for its cell therapy product for ALS, with commencement of its clinical trial. The participation of the Israel Innovation Authority will be 30% of the budget.

The treatment developed by the company, AstroRx®, is a groundbreaking cell-based treatment for ALS, the result of unique research of the company over many years. Kadimastem developed a unique technological platform for the repair and replacement of tissue and organs, using functioning cells differentiated from pluripotent stem cells.

A couple of weeks ago, Kadimastem reported that it had received the approval of the Ministry of Health for conducting its phase I/IIa clinical trial in ALS patients using the unique cell therapy developed by the company. The clinical trial will be conducted by the Department of Neurology of the Hadassah Ein-Kerem Medical Center, a world-leading center in the field of ALS, and is expected to include 21 patients. Hadassah Medical Center is beginning to recruit the patients for the trial. The trial will be performed within a framework of the outline coordinated with the FDA. 

Yossi Ben-Yossef, CEO of Kadimastem, noted: "With the company's clinical trial commencing now, we are pleased by the Innovation Authority's vote of confidence in the company and the ongoing support it has been providing us."

 

About Kadimastem

Kadimastem (www.kadimastem.com) is a biotechnology company that develops industrial regenerative medicine therapies based on differentiated cells derived from Human Embryonic Stem Cells (hESCs) to treat neuro-degenerative diseases such as ALS, as well as diabetes. 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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