Kamada Secures $20 Million in Venture Capital Financing
Kamada, an Israeli-based biopharmaceutical company, announced recently it has signed a $20 Million financing agreement with US based Hercules Technology Growth Capital, Inc., under venture lending terms. The agreement is aimed at diversifying the company's financing sources and to further finance its strategic plans over the forthcoming years.
According to David Tsur, CEO Kamada: “We are looking forward to a fruitful year with major achievements, among which are: the completion of the Phase III clinical study of our AAT IV drug expected during Q2/2008 and the advancement of the clinical and development plans with our aerosolized AAT product, the next generation AAT product”
Hercules Technology Growth Capital, Inc. is a publicly traded specialty finance company focused on providing debt and equity growth capital to technology and life science companies at all stages of development. Kamada is one of a select group of Israeli companies to join forces with Hercules (operating in Israel in a collaboration with Market Bridges, Ltd.) following the latter's June announcement of its intent to provide the Israeli market with financing opportunities. Hercules' investment portfolio through the end of Q3 2007 was worth $416 Million, with investments made in a total of 82 companies around the world. Since the end of Q3 2007, Hercules has also signed binding agreements for additional accumulated investments totaling $133 Million.
Commenting on the agreement with Hercules, David Tsur, CEO of Kamada, said: “the agreement with Hercules, a world reknowned financing organization, indicates a vote of confidence in Kamada's growth potential. 2007 has been a banner year for Kamada, including advanced clinical trials for US/FDA registration of intravenous AAT and major progress in clinical trials for European registration of the inhaled AAT, in addition to upgrading its manufacturing plant to FDA/EMEA standards. In the future, these investments could - pending successful completion of clinical trials, regulatory processes, as well as strategic alliances and the manufacturing capacity – ensure a long term increase in company revenue due to US and European sales.” Tsur added that “The agreement with Hercules will significantly contribute to achieving company goals”.
Kamada is an Israeli biopharmaceutical company developing, producing and marketing specialty life-saving therapeutics marketed in over 15 countries. Several of the company's products are undergoing advanced stages of clinical trials.For more information, please visit www.kamada.com