Elbit Imaging, a provider of image guided surgery products, has successfully closed the transaction with Enter Holdings 1 (Enter) and Enter's controlling shareholders, resulting in the issuance of Enter shares representing a 90% interest in Enter.
The issuance also includes the grant of exercise-price free options exercisable into shares of Enter, which together with the aforesaid shares would constitute 98.6% of Enter’s share capital (on a fully diluted basis), all in consideration for shares of InSightec representing 69.3% of InSightec’s share capital and shares of Gamida Cell representing 31.6% of Gamida’s share capital.
Elbit Imaging Co-CEO Dudi Machluf said that they are proud to announce the completion of this transaction, enabling to turn their Medical Division, which is comprised of their holdings in InSightec and Gamida, into a public company, allowing the public an opportunity to be a direct partner in their flagship medical companies.
InSightec has developed the MR guided Focused Ultrasound technology and transformed it into the next generation operating room which was used by ExAblate, an image guided, non-invasive, Robotic Acoustic Surgery system.
The ExAblate system was approved by the US Food and Drug Administration in 2004 as a treatment for symptomatic uterine fibroids.
MR thermometry, provided by the system, allows the physician to control and adjust the treatment in real time to ensure that the targeted tumor is treated and surrounding non targeted tissue is spared.
Gamida Cell uses stem cell expansion technologies to develop therapeutic products for cancer, including solid tumor and hematological (blood) diseases, as well as autoimmune diseases.