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news.Kamada, a biopharmaceutical company, has completed the private allocation of 2.62 million shares of its common stock to a select group of investors, including Ralf Hahn, chairman of the board and one of the controlling shareholders, and UDT Med Holdings, New York. The placement resulted in gross proceeds to Kamada of approximately $7 million.
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The company has recently completed a Phase III clinical trial in the US with its flagship IV Alpha-1 Antitrypsin (AAT) product indicated for treating AAT deficiency and is currently in advanced stages of development of its next generation, inhaled administration AAT for the treatment of various lung diseases including cystic fibrosis and bronchiectasis
David Tsur, CEO of Kamada, said: “We are pleased that we were able to involve both existing and new investors in this financing. We believe it demonstrates confidence in Kamada’s development projects and we look forward to using the proceeds of the offering to advance our clinical pipeline and to accelerate the entrance of our products into the US and EU markets.”