Kadimastem - Stem Cell to Cure Diseases

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Successful Public Offering for Kadimastem

May. 15, 2018

Ness Ziona, Israel, May 15, 2018, Israeli biotechnology company Kadimastem (TASE: KDST) announces the completion of a successful public offering and a raise of NIS 2.8M. The offering was done at a share price of 60 agorot, a price that is higher than the market price, and warrants at an exercise price of 75 agorot with an exercise period of 6 months.

Amongst the investors in the offering was Prof. Michel Revel, the Chief Scientist of the company, who invested NIS 300K in the offering.

Yossi Ben-Yossef, CEO of Kadimastem, stated: "We thank the investor public for its vote of confidence in the company and in its potential. Three weeks ago the company reached its most significant milestone since its establishment– the enrollment of the first patient for its clinical trial in ALS patients, using the cell therapy product developed by the company, AstroRx®. I believe that progress in the clinical program will greatly strengthen Kadimastem, will bring it to be a leader in the cell therapy field and will create value for the company's investors."

The phase I/IIa clinical trial is being conducted by the Department of Neurology of the Hadassah Ein-Kerem Medical Center, and it is expected to include 21 patients.

The objective of the trial is to evaluate the safety and efficacy of AstroRx® in patients.

 

About Kadimastem

Kadimastem (www.kadimastem.com) is a clinical stage 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 asDiabetes. 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 technology for 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.

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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