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March 10, 2009

Kamada to Get $5M to Aid Development of Snakebite Antiserum from Israeli Government

Israel to purchase snakebite antiserum from Kamada

  • Kamada finalized an agreement with the Israeli Ministry of Health to provide the country with a snakebite antiserum in exchange for NIS20 million, or $5 million, which will come in four separate payments. The money will fund all costs associated with the development of the antiserum and the establishment of a GMP manufacturing facility, a process expected to take two years. The ministry committed to purchasing the antiserum for 10 years.

    "This is an important agreement for Kamada," says David Tsur, chief executive of Kamada. "Not only does it signal the government's confidence in our capabilities, it also allows us to strengthen our existing asset base."

    The antiserum is being designed against Vipera palaestinae and Echis coloratus.

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