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Kamada Ltd. today announced the pricing of its initial public offering in the United States of 5,582,636 ordinary shares at a price to the public of $9.25 per ordinary share.
Total revenue from sales of Glassia in USA is expected to grow: minimum revenues of approximately $165 million
David Tsur, CEO said: “ We continue to implement successfully our strategic plan that includes strong growth in our Proprietary Products segment, mainly based on sales of AAT products in the U.S. and other countries, including commencing sales of our inhaled product in Europe, U.S. and other markets in the midterm, along with improving our margins. The first quarter of this year supports this trend and we are confident in our ability to meet our revenues forecast for 2013, which is based on orders from Baxter for the second half of 2013.”
Kamada announced that over dozens of patients with alpha-1 antitrypsin deficiency have already begun treatment of inhaled AAT beyond the time frame of the Phase II/III clinical trial; Kamada estimates that dozens of additional patients are expected to apply for continuation of treatment
This year, the company will complete its phase 2/3 clinical trial in Europe to treat AAT deficiency, it will start a phase 2 clinical trial in the US with the same product, and it expects to start a Phase 2 or phase 2/3 clinical trial to treat newly diagnosed type-1 Diabetes.
As Kamada's chairman Hahn founded and led Kamada from an idea to becoming a groundbreaking, leading company in its field of development, manufacture and marketing of specialty lifesaving biopharmaceuticals.
The Australian Patent Registrar has granted the Company a patent for inhaled Alpha-1 Antitrypsin.
The award was given based on the success of the Company's strategy in selling GLASSIA in the U.S. and worldwide, transforming it to an export-oriented company. The Company's exports in the first nine months of 2012 grew to $27.5 million
Kamada is the most advanced company in development of inhaled AAT drug for including for the treatment of CF.The previous phase II clinical trial showed an excellent safety and tolerability profile in addition to positive efficacy results indicating a substantial decrease in lung inflammation.
Kamada is among the fastest growing companies in Europe according to the Deloitte Technology Fast 500™ index for the year 2012. The list includes the 500 fastest growing companies in Europe, the Middle East and Africa (EMEA) in the fields of technology, media, communications, life sciences and cleantech.