Israel's Thrombotech and D-Pharm to merge

Israel-based Hadasit Bio-Holdings (TASE: HDST), 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, says that Thrombotech, a portfolio company in which Hadasit holds a 24.8% stake, has signed a merger agreement with D-Pharm (TASE: DPRM), a clinical stage, technology-driven biopharmaceutical company developing proprietary products for treatment of CNS disorders, also based in Israel.

Both parties have agreed on the terms and conditions of the merger, details of which are not disclosed, and the closing is subject to various approvals and regulatory permits. On completion of the transaction, Hadasit Bio-Holdings will hold around 15% of D- Pharm. Additionally, D-Pharm will issue rights for a sum of 11.5 million shekels (around $3 million), of which about 5.4 million shekels has been committed to by Clal Biotechnology.

Continued funding for lead product THR-18