HBL Hadasit Bio Holdings Ltd., ProtAb Ltd. and KAHR medical Ltd. announced that they will receive additional funding of ILS 10.7 million (over $2.8 million) by the Israeli Ministry of Industry and Commerce, Office of the Chief Scientist (OCS) to support product development and advance clinical trials. ProtAb approved for ILS 5.75 million (over $1.5 million) and KAHR Medical approved for ILS 4.95 million (over $1.3 million) as both companies receive funding for second consecutive year to advance product development and clinical trials. ProtAb received approval for two programs totaling ILS 5.75 million (over $1.5 million) at a financing rate of 30% to 50%.

The company is developing a novel approach for the treatment of autoimmune diseases based on a biological drug that activates the body's natural anti-inflammatory pathways. This is in contrast to the conventional approach of depressing inflammatory pathways which causes serious side effects and has limited efficacy. KAHR received approval for two programs totaling ILS 4.95 million (over $1.3 million) also at a financing rate of 30% to 50%.

The company is developing a platform technology known as SCP (Signal Converter Proteins) enabling the creation of protein based drugs with two active sites, affecting two biological pathways simultaneously with a synergistic effect, providing a distinct advantage over current drugs which have only one active site.