Enlivex Therapeutics Announces Closing of USD 8 Million Series B Round Led by KOREA INVESTMENT PARTNERS (KIP) and HADASIT BIO HOLDINGINGS LTD. (HBL)

PR70162

JERUSALEM, Sept. 20, 2017 /PRNewswire=KYODO JBN/ --

     Enlivex Therapeutics [http://www.enlivex.com ] Ltd., a clinical stage

immunotherapy company, announced today the closing of an $8 million equity

financing round at a valuation of approximately $50 Million pre-closing.

    Korea Investment Partners (KIP) has invested USD 6 million in the financing

round, and Hadasit Bio Holdingings Ltd. (HBL) (TASE:HDST) has co-invested USD 2

million.

    Following the closing, KIP has appointed two new members to Enlivex's Board

of Directors.

    The financing is expected to fund the commencement of Phase III clinical

trials of Enlivex's lead compound, Allocetra(TM). Allocetra(TM) is indicated

for the prevention of Graft Vs Host Disease (GVHD) post bone-marrow

transplantation. In addition, Enlivex will continue pre-clinical and clinical

development for other immunotherapy indications.

    Shai Novik, Chairman of Enlivex, commented: "We are pleased to welcome KIP

as a significant shareholder. KIP, which is the largest Venture Capital fund in

Korea, brings a superb track record of success in the Korean Venture Capital

market with specific domain expertise in the pharmaceutical sector. We look

forward for a fruitful cooperation, building shareholder value together."

    Sangwoo Lee, Executive Director of KIP, commented: "This is our third

investment in the bio-tech space in Israel. We are truly excited about the

potential of Enlivex to affect a change in the space of immunology."

    Baruch Halpert, Chairman of HBL, stated: "As co-founders of Enlivex and

co-investors in this round, we are confident that the combination of a

highly-experienced management team, which was responsoble for one of the

largest exits in Israeli biotech history, along with new investors with domain

expertise and long standing relationships with industry players in Asia, can

position Enlivex as a leading immunotherapy company."

    About Enlivex

    Enlivex Pharmaceuticals Ltd is a clinical-stage immunotherapy company,

developing an autologous and allogeneic  drug pipeline for the treatment of

autoimmune and inflammatory conditions which involve over-expression or

hyper-expression of cytokines (Cytokine Release Syndrome) such as CAR-T cancer

treatment procedures, Graft-versus-Host disease (GvHD) resulting from

bone-marrow transplantations, solid organ transplantations and an assembly of

autoimmune and inflammatory conditions, such as Crohn's disease, rheumatoid

arthritis, gout, multiple sclerosis,  and other disorders.

    About KIP

    KIP, a member of Korea Investment Holdings Group, is a Venture Capital firm

that has invested and promoted the growth of promising businesses for the past

30 years. KIP is managing over 20 funds totaling US$1.5 billion. Every year,

KIP invests in approximately 50 companies from Korea, China and the United

States. KIP's portfolio includes pioneers such as Kakao, Naver, YG

Entertainment, Bodyfriend, Osstem Implant, Doubleu Games, LegoChem Bio,

Viromed, Didi Chuxing and SoFi.

    About HBL - Hadasit Bio-Holdings Ltd.

    HBL (TASE: HDST) is a holding company with interests in life sciences

companies involved in medical and biotechnological research and development.

HBL is listed on the Tel-Aviv Stock Exchange, allowing the public access to the

biotechnology field. Most of HBL portfolio companies originate in knowhow

developed at the Hadassah Medical Center in Jerusalem.

    For Media Contacts:

    Enlivex Therapeutics Ltd

    Ms. Shachar Schlosberger

    shachar@enlivexpharm.com

    Korea Investment Partners

    Mr. Sangwoo Lee

    swlee@kipvcus.com

    Hadasit Bio Holdings Ltd.

    Mr. Yoram Azulai

    yoram@hbl.co.il

SOURCE: Enlivex Therapeutics Ltd.