Rafael Holdings takes majority stake in Rafael Pharmaceuticals

24 January 2019
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New Jersey, USA-based Rafael Holdings (NYSE: RFL) has bought a majority stake in Rafael Pharmaceuticals, building on prior investments in the metabolic oncology-therapeutics firm.

The total investment to date from Rafael Holdings in Rafael Pharma now amounts to $66.7 million, equating to a 51% stake in the company.

Howard Jonas, chief executive of Rafael Holdings, said: "We continue to invest in Rafael Pharma to support the promising clinical development of its lead drug, devimistat (CPI-613), as well as other Rafael Pharma agents now in pre-clinical development that have been discovered from its Altered Metabolism Directed platform.”

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