The company’s share has risen 17% since its IPO in January, giving a current market cap of NIS 105 million.
Hadasit Bio Holdings Ltd. (TASE:HDST) has notified the Tel Aviv Stock Exchange (TASE) that it has obtained permission to issue NIS 42.8 million in convertible bonds. The company is the third life science company floated in the past 12 months to hold a secondary offering; it was preceded by Can-Fite BioPharma Ltd. (TASE:CFBI) and Bio-Light Israeli Life Sciences Investments Ltd. (TASE:BOLT).
Hadasit Bio raised NIS 32 million at a company value of NIS 14 million before money in its IPO in January. The share has subsequently risen 17%, giving a current market cap of NIS 105 million.
Hadasit Bio has nine biomedical portfolio companies based on developments by researchers at Hadassah Medical Center. The company specializes in fostering companies developing treatments for cancer and infectious diseases, tissue regeneration and stem cell research, with an emphasis on companies undergoing Phase I clinical trials. The goal is to bring the companies to Phase II clinical trials and then make an exit.
Published by Globes [online], Israel business news - www.globes.co.il - on August 20, 2006
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