The company develops clinically differentiated and value-added products, based on approved drugs.
Pharma Two B Ltd. plans to raise NIS 44 million in an IPO on the Tel Aviv Stock Exchange (TASE) next Monday. The company will offer shares and warrants at a company value of $35 million before money. The company develops clinically differentiated and value-added products, based on approved drugs.
A group of former Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) executives founded Pharma Two B in 2007.
Pharma Two B shareholder, Belgium-based Flandria Participation Financiers SA, a unit of Italian insurance giant Assicurazioni Generali SpA (BIT: GIM), will buy NIS 15 million worth of shares as part of the IPO.
Pharma Two B develops two types of pharmaceuticals: new generic formulations; and fixed-dose combinations of two or more drugs with complementary and synergistic effects. The company has already licensed five new generic drugs to a US pharmaceutical company for further development, and it develops two new generic drugs a year. The company's combination drugs are based on patent-protected ethical drugs.
Published by Globes [online], Israel business news - www.globes-online.com - on November 30, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010