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Leading pharma entrepreneur Avi Meizler believes in Kadimastem!Mar. 19, 2014
Leading Pharma Entrepreneur Avi Meizler believes in Kadimastem!
Investing around 1.7 million shekels in the Company
Yossi Ben Yosef, CEO of Kadimastem: “Mr. Meizler’s rich experience and many contacts in the global pharmaceutical industry, will make an important and significant contribution to the progress of Kadimastem and help us to achieve our strategic targets”
Ness Ziona Science Park, March 19, 2014: Kadimastem Ltd., which is developing technologies for drug screening and develop based on stem cells, announced today that it has signed an investment agreement with Mr. Avi Meizler, a strategic investor in the pharmaceutical industry. Under the terms of the agreement, Meizler will be appointed a member of the company’s Board of Directors.
Kadimastem will allocate some 641 thousand shares, representing about 4.6% of the company’s capital at the price of NIS 2.7 per share (in return for about NIS 1.7 million). In addition, Avi Meizler may invest a further amount of up to NIS 4 million in the company.
Avi Meizler is a leading figure in the pharmaceutical industry in South America in general, and in Brazil in particular. With a group of partners, Meizler recently invested in Nasvax Ltd. UCB is a partner in his company, Meizler UCB Biopharma. Meizler is also the joint owner of Advantech, which engages in the development and commercialization of biological drugs. Mr. Meizler is one of the largest private investors in Brainsway, whose products he distributes in Brazil. In addition, Mr. Meizler has invested in Therapix Bioscience and the life sciences company Nirolin.
Yossi Ben Yosef, CEO of Kadimastem: “Mr. Meizler’s rich experience and many contacts in the global pharmaceutical industry, will make an important and significant contribution to the progress of Kadimastem and help us to achieve our strategic targets, both the clinical aspects of developing an innovative technological platform, and the business aspects of finding strategic partners, the future ability to raise capital, and examining mergers acquisitions.”
Kadimastem (www.kadimastem.com) (TASE: KDST) develops human stem cells used to scan drugs and create medical solutions for diabetes and neurodegenerative diseases. The company’s technological platform makes it possible to differentiate stem cells into a range of functional human cells, including neuron-supporting cells in the brain as well as pancreatic cells that secrete insulin – beta cells.
Kadimastem relies on technology that was developed by Professor Michel Revel, Chief Scientist of Kadimastem and the developer of Rebif®, the flagship drug of the international pharma company Merck Serono. Kadimastem is developing two medical applications: platforms for drug screening, which use functional human cells and tissues to discover new medicines for neurological diseases and for diabetes, and regenerative medicine whose purpose is to repair and replace tissues and organs that have been damaged by illness using healthy cells grown in laboratory conditions; for example, transplantation of insulin-secreting pancreas cells to treat insulin-dependent diabetes, or transplantation of healthy neural cells to support survival of nerve cells and treat ALS. As of today, the company has signed a memorandum of understanding regarding a strategic agreement with Merck Serono, intended to broaden the existing commercial cooperation between the two companies for drug screening and discovery for multiple sclerosis and neurodegenerative diseases such as ALS.
The information in this press release is forward-looking information, as this term is defined in the Securities Act, 5735-1968, based on the company’s estimates and its plans, which could change from time to time and/or not be realized, in full or in part, or be realized in a materially different way from that envisaged by the company, as a result of factors that are beyond the company’s control, including failure of research and development, failure to sign strategic cooperation agreements and/or to sign agreements that differ from what was agreed, including the realization of some of the risk factors that apply to the company.
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