trending Market Intelligence /marketintelligence/en/news-insights/trending/CGDD8y448paYaSUuOz5D8Q2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Israel's Kitov acquires FameWave in $10M stock deal

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform


Israel's Kitov acquires FameWave in $10M stock deal

Kitov Pharma Ltd. acquired biopharmaceutical company FameWave Ltd. for $10 million in newly issued American depositary shares priced at $1.23 apiece along with a 50% warrant coverage.

The warrants have an exercise price of $1.98 per ADS with a four-year term.

As part of the deal, OrbiMed Advisors LLC, Pontifax Ltd. and Arkin Holdings, which collectively hold about 90% of FameWave, are exchanging their shares in FameWave for Kitov ADSs and warrants and investing $3.5 million in Kitov in exchange for additional newly issued ADSs of Kitov. The three companies will now each hold a stake of about 11% in Kitov.

The Tel Aviv, Israel-based pharmaceutical company will also acquire FameWave's cancer drug CM-24. Kitov in the second half of 2020 plans to evaluate CM-24 in combination with Bristol-Myers Squibb Co.'s Opdivo in an early-stage study for treating non-small cell lung cancer.