FIMI Becomes Biggest Shareholder in Biomed Company Kamada
Nasdaq and Tel Aviv-listed Kamada develops protein-based pharmaceuticals for genetic disorders, as well as rabies antibodies and a serum against snake bites
Golan Hazani and Tzally Greenberg | 12:21 24.11.2019
Israel-based private equity firm FIMI Opportunity Funds has paid $30 million for a 12% stake in Nasdaq and Tel Aviv-listed biomed company Kamada Ltd., becoming its biggest shareholder, Kamada announced Thursday in a stock filing. FIMI agreed to pay $6 per share, giving Kamada a market capitalization of $240 million. Kamada closed 1.02% up on Nasdaq on Friday, at $6.9 per share, after closing 13.64% up on Thursday. Established in 1990, Kamada is based in central Israeli town Rehovot and develops protein-based pharmaceuticals. Its flagship product Glassia is FDA-approved to treat Alpha-1 antitrypsin deficiency (A1AD or AATD), a genetic disorder that can cause lung and liver diseases. Its other plasma-based products include a serum against snake venom and a rabies antibody. The company reported a 121.4% increase in revenues year-over-year for its third quarter reports, and a net profit of $5.7 million compared to a net loss of $2.3 million in the third quarter of 2018.