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Hadasit Bio-Holdings' Portfolio Companies Receive Funding to Support Clinical Trial Preparations and Obtain Regulatory Approvals in U.S. and Europe
Date:1/22/2013

JERUSALEM, Jan. 22, 2013 /PRNewswire/ -- Hadasit Bio-Holdings Ltd. (TASE: HDST, OTC: HADSY), a publicly traded portfolio of biotech companies, all based on intellectual property developed and owned by Hadassah University Hospital, Israel's foremost medical research center, announced today that two of its portfolio companies, ProtAb and Enlivex, have received approximately $700,000 in convertible loans from Hadasit Bio-Holdings and its partners.  ProtAb received $435,000 and Enlivex received approximately $268,000 (NIS 1 million).

Ophir Shahaf , Chief Executive Officer of Hadasit Bio-Holdings, commented, "This recent influx of financing is intended to support and supplement the ongoing research and advancements within both companies. In regards to ProtAb, our partners at Clal Biotechnology Industries and Pontifax have also made proportionate financial commitments in an effort to fund the company in this same regard.  With the allocation of this capital, we aspire to develop a new form of treatment for autoimmune diseases that will activate the body's natural anti-inflammatory pathways.  ProtAb's activities are already focused on pin-pointing the mechanism of action for this treatment and preparing for clinical trials."

Mr. Shahaf continued, "At Enlivex, a company in which Hadasit currently holds a 92% stake, the funding was provided entirely by Hadasit Bio-Holdings.  This funding will help Enlivex continue to develop its unique solution for the prevention of Graft versus Host Disease (GVHD) for patients undergoing bone marrow transplants, for which no effective cure currently exists.  Throughout 2013, we anticipate Enlivex to obtain orphan drug status in Europe and the U.S., present clinical plans for FDA approval, as well as make preparations for a multi-center Phase II trial.  We extensively analyzed their progr
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SOURCE Hadasit Bio-Holdings Ltd.
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