Kamada is in various stages of clinical development of new product candidates for our Proprietary Products segment. The following table sets forth our primary product pipeline in our
Proprietary Products segment and each such product’s stage of clinical trials:

Kamada is developing an inhaled formulations of AAT administered through the use of a nebulizer, for the treatment of AAT Deficiency. The company believe that Inhaled AAT for AATD will significantly improve the patient’s disease condition and the quality of life of the patients versus current invasive weekly treatment that requires uncomfortable infusion, consumption of time and administration by a medical professional. If approved, Inhaled AAT for AATD is estimated to be the first AAT product that is not required to be delivered intravenously but, instead is administered by a user-friendly, lightweight and silent nebulizer.

Kamada is also dedicated to the research of AAT and its potential therapeutic characteristics for novel indications. The company has a late-stage AAT product candidates in development, including a designated intravenous formulations for GVHD, Type-1 Diabetes and Lung Transplantation.