Israel's Kamada in $4M financing deal

Israel's Kamada, a biopharmaceutical company specializing in the development, manufacturing and marketing of specialty, life-saving biopharmaceuticals, has signed a $4.0 million private equity investment agreement with Shavit Capital Fund. The stock price will represent the 45 days of trade preceding the day of signature with a premium of 3%. The final price will be about 8.8% higher than on the day the agreement is signed between the two sides.

Commenting on the deal, Kamada's chief financial officer, Eyal Leibowitz, said that the company has successfully accomplished the goals it has set for itself during 2007, including the upgrade of its manufacturing plant to US and European Union regulators' standards, as well as advanced clinical trials with its leading products.

"In 2008, we expect to finalize the Phase III clinical trial with our intravenous AAT (alpha-1 antitrypsin) product and announce its results. The financial resources we are recruiting will allow us to further advance the clinical development of our next generation AAT product for aerosolized administration as well as our strategic collaborations," noted Mr Leibovitz.