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.