|Hadasit Bio-Holdings (HBL) and BioTime Complete Shares Swap Transaction in Cellcure Neurosciences|
The transaction is the first exit event to HBL since its establishment in 2006.
Cell Cure is a privately held company held by HBL (approximately 21%) with the majority of the shares held by
The consideration provided by
BioTtime committed to file with the
HBL reserves the right to buy back up to approximately 5% of Cell Cure shares for a period of five years at a price of
At the closing, the directors appointed to the Board of Directors of Cell Cure by HBL will resign and HBL will be entitled to appoint an observer to Cell Cure's Board of Directors.
HBL expects to reflect in its 2017 financial statements an accounting revenue of approximately
HBL largest shareholders are
HBL Chairman, Baruch Halpert, commented, "We are pleased to enter into a share swap agreement with
Mr. Vincent Tchenguiz on behalf of Consensus Business Group ("CBG") advising Centaurus Investment Ltd, said, "After many years of supporting the company, we are very delighted that HBL has reached this significant milestone with the completion of this transaction. Centaurus has identified the potential of HBL early on and we plan to continue investing in biomed companies in
"Centaurus Investment Ltd (a
CBG, chaired by Mr
Hadasit is the technology transfer company of the
CellCure Neuroscience is a a biotechnological company focusing on developing cell therapy for degenerative retinal and macular diseases. CellCure's technology is based on human embryonic stem cells (hESC) which can be produced on a mass scale for any cell of the human body.
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