Kamada Closes $60 Million in Private Placement
August 31, 2023
Rare Daily Staff
Kamada, a commercial stage global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions, said its shareholders approved the previously announced $60 million private placement with FIMI Opportunity Funds, a large existing Kamada shareholder.
Under the terms of the Private Placement, Kamada will be issuing an aggregate of approximately 12.6 million ordinary shares to FIMI at a price of $4.75 per share Upon closing of the private placement, expected during the first week of September, FIMI will beneficially own approximately 38 percent of Kamada’s outstanding ordinary shares and will become a controlling shareholder of the company.
“We now have enhanced financial flexibility, which allows us to accelerate the growth of our business. We are proactively evaluating a number of compelling business development opportunities that have the potential to expand our existing product portfolio,” said Amir London, Kamada’s CEO.
Kamada, based in Israel, has a portfolio of marketed products indicated for rare and serious conditions especially in the specialty plasma-derived field, focused on diseases of limited treatment alternatives. The company’s leading investigational product is an inhaled AAT for the treatment of alpha-1 antitrypsin (AAT) deficiency, a condition that raises your risk for lung and other diseases.
AAT is a protein made in the liver to help protect the lungs. If the body does not make enough AAT, the lungs are more easily damaged from smoking, pollution, or dust from the environment. Kamada is continuing to progress the InnovAATe clinical trial, a randomized, double-blind, placebo-controlled, pivotal phase 3 trial.
Photo: Amir London, Kamada’s CEO
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