NEW YORK, June 27, 2011 /PRNewswire/ -- Hadasit Bio-Holdings, Ltd. - (OTCBB: HADSY), a publicly traded portfolio of biotech companies all based on intellectual property developed and owned by Hadassah University Hospital, Israel's foremost medical research center, announced that it has listed and begun trading of American Depository Receipts (ADR) through BNY Mellon.
Shares of the ADR launched on June 20, 2011 on the over-the-counter (OTC) market under the symbol HADSY. The Company's ordinary shares trade on the Tel Aviv Stock Exchange under the symbol HDST and each ADR share represents 20 ordinary shares.
"Israel is known as the start-up nation and we are very excited to offer U.S. investors access to a promising group of Israeli biomedical startups," commented Ophir Shahaf, Chief Executive Officer of Hadasit Bio-Holdings. "Hadassah Hospital is a world renowned medical research hospital located in Jerusalem. By establishing Hadasit Bio-Holdings, we have the opportunity to select the most promising biotechnology companies, many of which have already exhibited promising clinical results with strategic partnerships and major investments from companies like Sanofi-Aventis, Teva and Biotime. By listing ADRs through BNY Mellon, investors in the U.S. now are able to easily invest in the opportunities presented by a group of companies (presently 7) and to share in their success without having to purchase shares directly though the Tel Aviv Stock Exchange."
Hadasit Bio-Holdings has significant holdings in companies operating in therapeutic fields where the potential for blockbuster products exist. Through its unique link to the Hadassah University Hospital, responsible for the majority of Israel's hospital-based translational research, Hadasit invests in promising companies that address unmet life science needs.
Hadasit Bio-Holdings fosters a clear competitive advantage for its portfolio companies through its close proximity to leading researchers and facilities as well as support for both the business and scientific activities of the companies. The companies comprising Hadasit's portfolio exhibit leadership in three major medical areas namely Oncology (Therapeutics and Diagnostics), Neurodegenerative disorders (including cell based therapeutics for GVHD, AMD and MS) and Inflammatory disorders (RA and IBD). Hadasit's strategy is to focus on funding its portfolio companies' pre-clinical trials, manufacturing, regulatory and business development as well as the execution of Phase I and preparation for Phase II.
About Hadasit Bio-Holdings
Hadasit Bio-Holdings, Ltd., established in 2006, is the publicly traded subsidiary of Hadasit Ltd. - the technology transfer company of the Hadassah University Hospital, Israel's foremost medical research center. The Company was established for the purpose of promoting and commercializing the intellectual property and R&D capabilities generated by Hadassah.
HADSY is the domestically traded ADR of Hadasit Bio-Holdings, a public investment vehicle of seven portfolio biotech companies all based on inventions developed and owned by Hadassah. Hadasit Bio-Holdings focuses on advancing companies that have already shown proof of concept and successful preclinical trials to completion of Phase I/II.
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SOURCE Hadasit Bio-Holdings