Kitov Pharmaceuticals Hldgs L Sponsored ADR (KTOV)

[EM]

From last SEC filing
http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=11782238&RcvdDate=1/13/2017&CoName=KITOV%20PHARMACEUTICALS%20HOLDINGS%20LTD.&FormType=6-K&View=html

"In connection with the transaction the Company will pay aggregate cash proceeds of $2 million, and has issued 11,292,508 Ordinary Shares of the Company, as consideration for the transfer of 9,570 ordinary shares in TyrNovo Ltd. from its controlling shareholder, Goldman Hirsh Partners Ltd., representing a holding of approximately 56% of TyrNovo".

From Goldman Hirish Website
http://media.wix.com/ugd/c647db_c467245484e74f7db951fa0fe9d30ebe.pdf

The potential buyers of TyrNovo’s products are the international big-pharma companies which, by combining their existing blockbuster drugs with TyrNovo’s novel drugs, can expect to multiply their revenues from these drugs.
In pre-clinical trials, prevention of acquired resistance and regression of resistant tumors have been demonstrated with the following drugs when combined with NT219:
• Erlotonib – marketed by Roche, Genentech and OSI Pharmaceuticals
• A nitor – marketed by Novartis
• Cetuximab/Erbitux – marketed by Merck, Bristol-Myers Squibb and Eli Lilly e drugs that have already shown positive results from their combination with
TyrNovo’s NT219 have together annual sales exceeding five billion dollars.
Following Phase I/IIa clinical research stages in target cancers, TyrNovo will enter into cooperation and licensing agreements with the biopharma companies.

Hope KTOV management could explain this new strategy (and what is there behind this acquisition).

KTOV is still a solid co. with at at least 15mm cash on hand and a drug waiting for the NDA submission and a licensing/partnering/selling deal.