KDST

IMC Announces Potential Reverse Merger with Kadimastem a leading Clinical cell therapy company

Retrieved on: 
Wednesday, February 28, 2024
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TORONTO and GLIL YAM, Israel, Feb. 28, 2024 /PRNewswire/ -- IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the "Company" or "IMC"), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that it has entered into a non-binding term sheet dated February 13, 2024, as amended (the "Term Sheet"), and a Loan Agreement (as defined below) with Holding Company (as defined below), with Israel-based Kadimastem Ltd a clinical cell therapy public company traded on the Tel Aviv Stock Exchange under the symbol (TASE: KDST) ("Kadimastem"), whereby the parties will complete a business combination that will constitute a reverse merger into the Company by Kadimastem (the "Proposed Transaction").

Key Points: 
  • We have been looking for a way to deliver maximum value for our shareholders in the current situation and believe that a reverse merger with Kadimastem will provide this," said Oren Shuster, CEO of IMC.
  • "With its focus on clinical stage cell therapy, and an FDA approval for a Phase IIa clinical trial, we believe that Kadimastem has tremendous potential."
  • The Proposed Transaction will be effected by way of a plan of arrangement involving a newly created wholly-owned subsidiary of IMC and Kadimastem (the "Arrangement").
  • Pursuant to the terms of the Term Sheet, a loan agreement dated February 28, 2024 (the "Loan Agreement") was entered between IMC Holdings Ltd. a wholly-owned subsidiary of IMC (the "Holding Company") and Kadimastem.

DGAP-News: Kadimastem Receives US Patent For Amyotrophic Lateral Sclerosis (ALS) Treatment

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Tuesday, August 9, 2022
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This US patent joins additional patents granted to Kadimastem in the US, Israel and Europe for the treatment of ALS and for ALS drug screening.

Key Points: 
  • This US patent joins additional patents granted to Kadimastem in the US, Israel and Europe for the treatment of ALS and for ALS drug screening.
  • The cells are intended to support the survival of neurons in the central nervous system (CNS, brain and spinal cord).
  • This situation hampers and annuls the neuromuscular signaling, which negatively affects muscle activity and leads to eventual paralysis and death.
  • The patent announced today strengthens our intellectual property portfolio in the field of ALS and other neurodegenerative diseases.

DGAP-News: Kadimastem and Implant Therapeutics, Inc. Sign an Evaluation Agreement Towards the Potential Licensing of “Immune Evasive” Cells

Retrieved on: 
Wednesday, June 8, 2022
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If so, Implant Therapeutics iACTTM cells could be a good cell source for Kadimastem to create its glucose sensing, insulin producing pancreatic cells, the basis for IsletRx, without the need of Immune protection or immunosuppression.

Key Points: 
  • If so, Implant Therapeutics iACTTM cells could be a good cell source for Kadimastem to create its glucose sensing, insulin producing pancreatic cells, the basis for IsletRx, without the need of Immune protection or immunosuppression.
  • The iACTTM Immune Evasive cell technology uses genetic modifications to cloak cells to be seen as part of the receiving bodys immune system and therefore are not rejected following transplantation.
  • A successful evaluation may result in the licensing by Kadimastem of Implant Therapeutics technology.
  • Kadimastem CEO Asaf Shiloni said, This strategic agreement with Implant is the result of a long-term effort we have invested in bringing the innovative Immune Evasive cell technology to Kadimastem.

DGAP-News: Kadimastem Awarded Patent in Japan for AstroRx® For ALS and Drug Screening

Retrieved on: 
Monday, May 30, 2022
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Kadimastem Ltd. (TASE: KDST), a clinical stage cell therapy company developing a treatment for ALS, exploring one for multiple sclerosis and developing a potential cure for diabetes, has received a patent from the Japan Patent Office for AstroRx for the treatment of ALS and drug screening.

Key Points: 
  • Kadimastem Ltd. (TASE: KDST), a clinical stage cell therapy company developing a treatment for ALS, exploring one for multiple sclerosis and developing a potential cure for diabetes, has received a patent from the Japan Patent Office for AstroRx for the treatment of ALS and drug screening.
  • Data showed that AstroRx delayed the progression of ALS by three months in ALSFRS-R measurement in both tested AstroRx doses.
  • In addition, we are exploring the possibilities of business partnerships with the pharmaceutical industry in Japan, both for AstroRx for ALS and IsletRx for diabetes.
  • AstroRx, the Company's lead product, is an astrocyte cell therapy in clinical development as a treatment for ALS.

DGAP-News: Kadimastem Expands R&D Program to Include Multiple Sclerosis

Retrieved on: 
Thursday, May 19, 2022
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Kadimastem Ltd. (TASE: KDST), a clinical stage cell therapy company developing a treatment for ALS and a potential cure for diabetes, is expanding its R&D activity with the exploration of developing a treatment for Multiple Sclerosis (MS).

Key Points: 
  • Kadimastem Ltd. (TASE: KDST), a clinical stage cell therapy company developing a treatment for ALS and a potential cure for diabetes, is expanding its R&D activity with the exploration of developing a treatment for Multiple Sclerosis (MS).
  • Professor Ben-Hur is the Director of Brain Medicine at Hadassah Ein Kerem Medical Center and a pioneer and opinion leader in the field of clinical research in multiple sclerosis.
  • Its a first-of-its-kind in the world to treat multiple sclerosis, " said Professor Michel Revel, Israel Prize Winner, Kadimastem Founder and Chief Scientist, and famous for his groundbreaking research that led to the development of the blockbuster drug Rabif for multiple sclerosis.
  • Professor Revel received the Israel Prize for the invention and development of Rebif, a multiple sclerosis blockbuster drug sold worldwide.

DGAP-News: Kadimastem Receives Grant for a Total Budget of NIS 10 Million ($3.1 million) from the Israeli Innovation Authority

Retrieved on: 
Saturday, March 5, 2022
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Kadimastem CEO Asaf Shiloni said, "This grant is an important expression of trust by the Israeli Innovation Authority in Kadimastem and the potential of our clinical, cell therapy platform to provide millions of patients worldwide with life-saving treatments.

Key Points: 
  • Kadimastem CEO Asaf Shiloni said, "This grant is an important expression of trust by the Israeli Innovation Authority in Kadimastem and the potential of our clinical, cell therapy platform to provide millions of patients worldwide with life-saving treatments.
  • The Company is currently in one of the most significant periods in its history, both clinically and financially.
  • Prof. Michel Revel, Chief Scientist of Kadimastem: "We thank the Innovation Authority for supporting Kadimastem, its work and its vision."
  • This is the second grant awarded to Kadimastem in the past months by the IIA.

DGAP-News: Kadimastem Announces the Approval of a 4M NIS ($1.29M) Budget from the Israel Innovation Authority

Retrieved on: 
Monday, December 20, 2021
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Kadimastem Ltd. (TASE: KDST), a clinical stage cell therapy company developing a treatment for ALS and a potential cure for diabetes, has received a grant of NIS 1.6 million ($500K), 40% of the approved budget of NIS 4 million ($1.29M) from the Israel Innovation Authority (IIA) .

Key Points: 
  • Kadimastem Ltd. (TASE: KDST), a clinical stage cell therapy company developing a treatment for ALS and a potential cure for diabetes, has received a grant of NIS 1.6 million ($500K), 40% of the approved budget of NIS 4 million ($1.29M) from the Israel Innovation Authority (IIA) .
  • This brings the total amount of financing raised by Kadimastem in 2021 to NIS 51.6 million ($16 M).
  • Kadimastem CEO Asaf Shiloni said, "In the past year, Kadimastem has experienced an unprecedented show of support from both existing and new investors.
  • Chief Scientist of Kadimastem Professor Michel Revel said, "We thank the Israel Innovation Authority for its continued support and for further helping Kadimastem to proceed on this very worthwhile journey."

ILEX Medical to Invest 10 million NIS ($3.2 million) in Kadimastem

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Monday, November 29, 2021
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If exercised, it would increase the amount of the investment to 21 million NIS ($6.7 million).

Key Points: 
  • If exercised, it would increase the amount of the investment to 21 million NIS ($6.7 million).
  • Tamar Galili, CEO of ILEX Medical, intends to join the board of Kadimastem.
  • "We are excited to partner with ILEX Medical, one of the most significant companies in Israel in the biotechnology field and currently traded at a value of around 1.5 billion NIS ($480 million).
  • We thank ILEX Medical for their support and their choice to become a strategic investor in Kadimastem."

DGAP-News: Kadimastem Raises $5 million In Private Placement

Retrieved on: 
Tuesday, October 26, 2021
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Kadimastem Ltd. (TASE: KDST), a clinical stage cell therapy company, announced today a NIS 16.1 million ($5 million) private placement, led by funds Clover Wolf Capital and Alpha Capital Anstalt and with the additional investment in the company by its controlling shareholders, Professor Michel Revel and Mr. Julien Ruggieri.

Key Points: 
  • Kadimastem Ltd. (TASE: KDST), a clinical stage cell therapy company, announced today a NIS 16.1 million ($5 million) private placement, led by funds Clover Wolf Capital and Alpha Capital Anstalt and with the additional investment in the company by its controlling shareholders, Professor Michel Revel and Mr. Julien Ruggieri.
  • In addition to the placement announced today, the investors were also given an option to purchase an additional NIS 15.1 million ($4.7 million) in shares in the future.
  • This exercise of options took place approximately 10 months before the expiration date and amounted to about NIS 9.45 million ($2.9 million) for the company.
  • Company founder and controlling shareholder Professor Michel Revel exercised options amounting to NIS 3.5 million ($1.1 million) about a month ago.

DGAP-News: Kadimastem Raises NIS 16.1 million ($5 million) In Private Placement

Retrieved on: 
Monday, October 25, 2021
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In addition to the placement announced today, the investors were also given an option to purchase an additional NIS 15.1 million ($4.7 million) in shares in the future.

Key Points: 
  • In addition to the placement announced today, the investors were also given an option to purchase an additional NIS 15.1 million ($4.7 million) in shares in the future.
  • This exercise of options took place approximately 10 months before the expiration date and amounted to about NIS 9.45 million ($2.9 million) for the company.
  • Company founder and controlling shareholder Professor Michel Revel exercised options amounting to NIS 3.5 million ($1.1 million) about a month ago.
  • The round announced today follows a successful raise of NIS 22.3 million ($6.8 million) last April 2021.