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Investment in Kadimastem: International Pharma Entrepreneur Avi Meizler Invests Additional NIS 1.2M in the CompanyOct. 1, 2015
Avi Meizler has invested approximately NIS 3.4M in Kadimastem to date
Ness Ziona, Israel, October 1st, 2015, Israeli biotechnology company Kadimastem (TASE: KDST) has received an additional investment from international entrepreneur Avi Meizler, in the amount of approximately NIS 1.2M.
Avi Meizler is an international entrepreneur, who invests in biomed companies, and has invested in Kadimastem approximately NIS 3.4M to date, including the current investment. Meizler is a leading figure in the South American pharmaceuticals industry in general, and in Brazil in particular. Amongst his activities, Meizler is a co-owner of Advantech, specializing in the development and commercialization of biological drugs.
The investment made by Avi Meizler, who is also a director of Kadimastem, was made through exercising non-marketable options issued to him in a private placement held by the company around a year and a half ago. This is a vote of confidence in the company, as the exercise of the options took place seven months before their last exercise date.
Yossi Ben Yossef, the company’s CEO, stated: “Kadimastem is enjoying a period of major development momentum lately - we’ve reported success in our pre-clinical trials and we are in contact with the FDA regarding the commencing of an ALS clinical trial. These processes are evident in the financial area as well, as demonstrated in recent financing agreements we have signed, and in investments made in the company, including the current investment by Mr. Meizler, who believes in and has been accompanying Kadimastem over the past year and a half”.
Kadimastem is a biotechnology company, operating in the field of regenerative medicine – a groundbreaking field in which the malfunctioning of organs which leads to diseases is repaired by external cells, tissues or organs. The company 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 Yossef, and is traded on the Tel Aviv Stock Exchange (TASE: KDST). Kadimastem employs 32 people, of which 11 are PhDs, and its 1,700m2 offices and labs are located in the Ness Ziona Science Park.
Kadimastem was founded based on patent protected technology that was developed at the Weizmann Institute of Science, in Prof. Michel Revel’s laboratory. Prof. Revel, who serves as the company's Chief Scientist and director, developed Merck KGaA's blockbuster drug, Rebif® for the treatment of MS (sales of around $2.4 billion sales in 2014).
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.
The company is headed by Yossi Ben-Yossef, an entrepreneur with extensive experience in life sciences companies. The company's chairman is Dr. Eli Opper, formerly the Chief Scientist of the Israeli Ministry of Industry, Labor and Trade, and its investors include Altshuler Shaham Investment House, foreign investors (Julien Ruggieri and Avi Meizler), and the company's founders.
Kadimastem has an extensive scientific advisory board, featuring prominent scientists and pioneers: in the embryonic stem cells field, Professor Benjamin Reubinoff and Professor Joseph Itskovich, in the neurodegenerative disease field, Professor Tamir Ben-Hur, and in the diabetes field, Professor Shimon Efrat and Professor Eddy Karnieli.
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