BNY Mellon has been selected by Hadasit Bio-Holdings, Ltd. as depositary bank for its American depositary receipt program. Each Hadasit Bio-Holdings American depositary receipt represents 20 ordinary shares and trades on the OTC market under the symbol “HADSY.” Hadasit Bio-Holdings ordinary shares trade on the Tel Aviv Stock Exchange under the symbol HDST.
Hadasit Bio-Holdings manages a portfolio of companies based on intellectual property generated by Israel’s foremost medical research centerHadassah University Hospital which is responsible for the majority of Israel’s hospital-based translational research. All of the portfolio companies are based on inventions developed and owned by Hadassah. The companies operate in the fields of oncology (therapeutics and diagnostics), regenerative medicine and inflammatory disease. Hadasit Bio-Holdings focuses on funding the portfolio companies’ preparation for and execution of Phase I and preparation for Phase II. Preparations include preclinical trials, manufacturing, regulatory and business development tasks.
“Israel is known as a ‘startup nation,’ and we are very excited to give investors access to a promising group of Israeli BioMed startups through HBL,” says Ophir Shahaf, chief executive officer of Hadasit Bio-Holdings. “With BNY Mellon’s superb depositary receipts team supporting our efforts, we are confident to make the most of our ADR and the possibilities for global exposure it creates.”
Michael Cole-Fontayn, chief executive officer of BNY Mellons Depositary Receipts business, adds: “Israel’s strength in the biopharmaceutical fields is world renowned, and HBL has a compelling story within that space. HBL has strong global connections through Hadassah, and we will work together to maximize exposure for its newly-created ADR through an array of investor relations and visibility initiatives.”
(CM)