FIMI invests $60m in Kamada for controlling stake

• Published date: 24 May 2023
• Publication title: Globes (Rishon LeZion, Israel)

Before today's share purchase, FIMI, led by Ishay Davidi, already had a 21% stake in Kamada, and after the announcement of the private placement, the company's share price jumped 10%, leaving FIMI with a handsome profit on the investment so far. After the investment, FIMI has a 38% stake in Kamada and becomes the controlling shareholder. After the rise, Kamada has a market cap of NIS 875 million

FIMI first invested in Kamada in 2019, buying a 12% stake at $6 per share, 26% above the company's current share price. In early 2020, FIMI increased its holding to 21% at the same price per share.

Before its initial investments, FIMI knew that Kamada was approaching a crossroads. The company was committed to transferring the production rights for its lead product for AAT deficiency, a condition that raises risk for lung and other diseases, to its marketing partner Takeda. As a result, the company would no longer record revenue...