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Kitov Pharma acquires additional stake in TyrNovo

Kitov Pharma Ltd. acquired an additional 3.1% stake in its majority owned unit TyrNovo Ltd.

The Israel-based biopharmaceutical company acquired the stake from Taoz – Company for Management and Holdings of Cos. Ltd., in exchange for 0.9% of Kitov stock, comprising 2,816,900 newly issued ordinary shares or 140,845 American depositary shares.

Kitov Pharma now owns about 97.1% of TyrNovo, with the remaining 2.9% owned by TyrNovo founder and Chief Technology Officer Hadas Reuveni.