Teva set to invest $22 m. in CureTech

By SHIRI HABIB-VALDHORN, GALI WEINREB / GLOBES
May 18, 2011 11:02

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Teva Pharmaceutical Industries Ltd. is expected to invest a further $19-22 million in CureTech Ltd. on Wednesday after the company reported preliminary successful results of its Phase II clinical trial of CT-011 stem cell treatment of Diffuse Large B Cell Lymphoma.

The investment would be at a company value of $170 million.

Teva acquired 33% of CureTech in 2006, following the Phase I trial of CT-011, and it has the option to increase the stake depending on the results of CT-011's clinical trial. Teva also has an indirect stake in CureTech through Clal Biotechnology Industries Ltd.. CBI is CureTech's largest shareholder with a 37% stake, and Teva holds 15% of CBI.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
November 14, 2018
Report: Gaza fisherman killed by IDF Fire

By JERUSALEM POST STAFF