Kamada Raises an Additional US$ 1.5 Million (Approximately) in a Private Allocation of Common Stock
NESS ZIONA, Israel, May 11, 2009 (BUSINESS WIRE) — KAMAF | Quote | Chart | News | PowerRating — Kamada (TASE:KMDA), a biopharmaceutical company engaged in the development, production and marketing of specialty life-saving biotherapeutics announced today that, pursuant to an agreement dated February 23, 2009, it has completed the private allocation of the company’s common stock to Meitav, a leading institutional investor in Israel. The placement resulted in gross proceeds to Kamada of approximately US$1.5 million via private placement memorandum in Israel.
On May 4, 2009, Kamada closed on the sale of approximately US$7 million of its common stock in a private allocation to a select group of investors, including Mr. Ralf Hahn, Chairman of the Board and one of the controlling shareholders, and UDT Med Holdings LLC, New York.
Kamada is a public biopharmaceutical company (TASE:KMDA) developing, producing and marketing a line of specialty life-saving therapeutics using its proprietary chromatographic purification technologies. Licensed and marketed in more than 15 countries, several of these specialty therapeutics and are currently undergoing advanced clinical trials.
The company has recently completed a Phase III clinical trial in the US with its flagship IV Alpha-1 Antitrypsin (AAT) product indicated for treating AAT deficiency and is currently in advanced stages of development of its next generation, inhaled administration AAT for the treatment of various lung diseases including cystic fibrosis and bronchiectasis.
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