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Frost & Sullivan Publishes Immediate Update Report on Kadimastem Ltd.: World's First successful transplant of embryonic stem cells in ALS patients


News provided by

Frost & Sullivan

11 Oct, 2018, 14:56 BST

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Due to a higher probability of success in current clinical trials (results due in mid-2019), target price increased to NIS 1.12

Equity Research is published in the framework of the Tel Aviv Stock Exchange (TASE) Analysis Program

TEL AVIV, Israel, Oct. 11, 2018 /PRNewswire/ -- The TASE analysis project was launched in 2016 in order to raise the investors' level of knowledge of TASE listed technology and life-science companies and the markets in which the companies operate, thus creating appropriate pricing and increasing the exposure of investors from Israel and abroad. Its goal is to encourage investments in these companies by removing the barrier of lacking understanding in the market.

In order to maintain professional, independent and unbiased analysis, the companies signed an agreement with the TASE to receive the analysis services for an obligatory period of two years. The companies cannot withdraw from the project during this period. The analysis is funded by the companies surveyed with funding from the Chief Scientist and the TASE.

Summary of Highlights

Kadimastem published an immediate report on October 9, 2018. The company reported on the world's first transplantation of embryonic stem cells and the completion of 5 patients' enrollment for Cohort A. The very success of the implantation is an initial confirmation of the safety of cellular therapy:

  • The company performed the world's first astrocytes cell transplantation in the first ALS patient. Final results will be published in mid-2019 for the first group
  • Cell transplantation is a scientific breakthrough in that it is first performed in humans as part of a clinical trial. The innovative technology developed in KadimaStam by Prof. Michel Revel, Chief Scientist of the company, and Dr. Michal Yizrael, Deputy Director General of R & D of Neurodegenerative Diseases, is a unique approach to cell transplantation that produces healthy cells that function instead of cells that have been infected with the disease, ALS, thus forming a kind of spare part in the nervous system.
  • The clinical trial examines the safety and efficacy of cellular therapy after cell transplantation. The company has invested more than $ 40 million to develop the company's technology.
  • In the first analysis report we published on June 12, 2018, we reviewed all activities of Kadimastem with details regarding the trial and its significance.

In our view, this means confirming our assessment of the progress of the clinical trial. The expected results of the experiment in mid-2019 are known and included in our economic model. However, the recruitment of 5 patients and successful transplantation increases the probability of success of the entire clinical trial. We will examine the continued recruitment of patients and analyze it in our upcoming quarterly report.

Thus, we raise our valuation for the company to NIS 69 million (our previous estimate was NIS 52 million), at a target price of NIS 1.03 to NIS 1.21; Average of NIS 1.12.

  • See more for details in our Initiation of Coverage report dated June 12, 2018 for details on our valuation methodology.

About the company - Kadimastem Ltd. (hereinafter "Kadimastem" or "the company") is a clinical stage biopharmaceutical company that specializes in developing different types of human body cells (known as differentiated cells) – such as neural cells (e.g. oligodendrocytes and astrocytes) and insulin secreting beta cells, derived from human embryonic stem cells. The company has its technological platform  and two current stem cell based therapies in research phase – AstroRx (consists of astrocytes, a type of brain cell) and Encapsulin (insulin secreting beta cells) for treating amyotrophic lateral sclerosis (ALS) and diabetes respectively.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us:  Start the discussion

Contact:
Kristi Cekani 
Corporate Communications - Frost & Sullivan, Europe
P: +39.02.4851.6133
E: kristi.cekani@frost.com
http://www.frost.com 

Related Links

http://www.frost.com

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