The company also reported on the repurchase of shares in the amount of approximately NIS 10 million and on negotiations that the company is conducting for the sale of anatomy funds and the sale of the holding in the site.
Clal Biotechnology reports today on the financial results for 2020 as well as on negotiations it is conducting for the sale of anatomy funds and its intention to establish a Spock company.
During the year, the company reported two exits, Neon and Cadent. Caleid was sold by Clal Bio to Novartis for $ 210 million, in a deal that also included future payments based on success of up to $ 770 million. Neon has merged with Biontech. Against the background of the success of the exits, the company’s board of directors decided to distribute a dividend of NIS 36 million
The company also reported a repurchase of shares in the amount of NIS 10 million and the decision of the company’s board of directors to now focus on the large companies and biotechnology. In this context, the company conducts two negotiations. One for the sale of anatomy funds and the other for the sale of the holding in the site.
The sale of the funds is managed by Clal Bio with Alameda Ventures. Negotiations are underway for the acquisition of full holdings in the Medical Technology Anatomy Fund I – Limited Partnership and the Medical Technology Anatomy Fund II – Limited Partnership, two limited partnerships operating in the field of medical technologies.
The limited partners in Anatomy Funds are Ketav (50%), Migdal Insurance Company Ltd. (30%) and Harel Insurance Company Ltd. (20%). The main portfolio companies of Anatomy Funds are: Pi Cardia, Sight, Colospan and FDNA It should be noted that at this stage, the holdings of the anatomy funds in Sight will not be included in the transaction.
In exchange for the acquisition of the holdings in the Anatomy Funds, Almeda is expected to allocate to the partners in the Anatomy Funds Almeda’s participation units worth between NIS 17 million and NIS 20 million, in addition to paying them future consideration, depending on the realization events of the companies held by the Anatomy Funds. Of up to an additional NIS 17 million, in cash or in negotiable securities arising from the realization events.
In addition, Almeda will pay to Katav 10% of the increase in the value of each company in the portfolio of companies held by anatomy funds in realization events, and in such a case, the general partner will waive half of the initiative fee (10%) for the relevant realization event.
Clal Biotechnology also announces today its intention to establish a $ 100 million SPAC with leading partners in the field, which will focus on merging or acquiring an Israeli company operating in the life sciences, including the fields of biotechnology, drug development, digital medicine and medical technology.