CellCure Neurosciences News
7 articles
Lineage Establishes Exclusive Worldwide Collaboration With Genentech for the Development and Commercialization of OpRegen® RPE Cell Therapy for the Treatment of Ocular Disorders
BioTime Awarded $2.5 Million Grant from the Israel Innovation Authority for Continued Development of OpRegen®
Hadasit sells stem cell co Cell Cure stake
Hadasit Bio-Holdings has sold its 21% stake in Cell Cure to BioTime for $12.75 million. The deal reflects a $60 million value for Cell Cure, a stem cell company developing treatments for retinal degeneration. Hadasit believes it will post a $9 million pre-tax accounting profit following the deal. BioTime already owns 62% of Cell Cure and will have full ownership after the deal. BioTime has given Hadasit a five-year option to buy back 5% of Cell Cure. The announcement caused Hadasits share price to jump 35%.
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US co BioTime dual-listing on TASE
US biotechnology company, BioTime, Inc., is set to dual list on the Tel Aviv Stock Exchange. The company, which has a market cap of $268 million, will be traded under the ticker symbol BTX. BioTime CEO, Michael West, believes that the dual listing will help the company to open a new access point for their shares in the Israeli market and expand and diversify their shareholder base. The company has two Israeli subsidiaries, Cell Cure Neurosciences Ltd. and LifeMap Sciences Ltd.
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Cell Cure Neurosciences Ltd. Provides Update on its Product Development and Partnering Activities
Cell Cure Neurosciences awarded $1.5m Chief Scientist grant
Stem cell company Cell Cure Neurosciences has been awarded a NIS 5.34 million grant for the development of OpRegen, a cell-based therapeutic product for the treatment of age-related macular degeneration. The company plans to complete preclinical testing and file an application for human clinical trials in 2014. Cell Cure is developing therapeutic cells for the treatment of retinal and neural degenerative disease. The company was acquired by BioTime in 2010 and has received investments from BioTime, Teva Pharmaceutical Industries Ltd., and Hadasit Bio Holdings Ltd.
Investment
Stem cell co CellCure raises $7.1m
CellCure Neurosciences Ltd., a stem cell company, has raised $7.1 million in a funding round. Teva Pharmaceutical Industries Ltd., BioTime Inc., and Hadasit Bio Holdings Ltd. are among the investors. Teva will receive rights to CellCures AMD eye disease treatment and will invest $2 million immediately. BioTime is the biggest investor in the round, contributing $4.1 million. Hadasit also invested $1 million and converted its previous loan into equity. This funding round marks the largest ever for CellCure and the first commercial agreement for a Hadasit portfolio company. The event occurred on October 10, 2010.
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