KAHR Medical and Cobra Partner to Develop Trans Signal Converter Protein Production

Keele, UK and Jerusalem, Israel: 11 May, 2009, Cobra Biomanufacturing Plc (AIM: CBF), the international manufacturer of biopharmaceuticals, and KAHR Medical Ltd., a Hadasit-Bio-Holdings (HBL, TASE: HDST) portfolio company that develops novel drugs for the treatment of autoimmune diseases, announced today a partnership agreement.

Under the terms of the agreement, Cobra will advance KAHR Medical’s Trans Signal Converter Protein (“TSCP”) technology using Cobra’s maxXpress service and recombinant protein production expertise. More specifically, Cobra will develop and manufacture bulk quantities of KAHR’s TSCP proteins for preclinical and future clinical testing. Currently, two recombinant proteins, KAHR-101 and KAHR-102 are being tested in preclinical studies as potential treatments for rheumatoid arthritis (RA) and psoriasis. Cobra has already developed a purification process for KAHR-101 and batches have already been produced for preclinical testing.

Simon Saxby, CEO of Cobra Biomanufacturing Plc said, “We are delighted that KAHR has chosen Cobra to help develop its TSCP technology. Cobra’s maxXpress service and recombinant protein expertise enable it to provide the required tools and solutions necessary for companies looking to start on the road to clinical trials and market supply. Also, Israel has a rapidly expanding biotech industry and we are very pleased to be establishing a very good relationship there.”

Dr. Noam Shani, CEO of KAHR Medical said, “We have been working together with Cobra for about 18 months on KAHR-101 and KAHR-102 and they have done great work developing a production process for KAHR-101. We are looking forward to a long and successful association.”

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For further information, please contact:

Cobra Biomanufacturing Plc
Tel: +44 (0) 1782 714 181
Simon Saxby, Chief Executive Officer

Buchanan Communications
Tel: +44 (0) 207 466 5000
Tim Anderson/Rebecca Skye Dietrich

College Hill Life Sciences
Tel: +44 (0) 1260 296 506
Kathryn Robertson

Seymour Pierce (NOMAD & Broker)
Tel: +44 (0) 207 107 8000
Christopher Howard/Christopher Wren

Notes to Editors:

About TSCP Molecules

TSCP molecules represent a paradigm-shift in drug development. TSCP drugs are unique, because they integrate two functional sides within the same molecule, unlike conventional biologicals that only have one functional side. These two active sides allow TSCP drugs not only to block or induce cell signals, as conventional drugs do, but also to convert signals sent from one cell to another, which is especially beneficial for the manipulation of the immune system required for the treatment of autoimmune disease. As disclosed in January 2009, the company plans to initiate a clinical study of its first product, KAHR-101, for the treatment for RA, in 2010.

About Cobra’s maxXpress

Cobra’s maxXpress service combines the expertise and experience of its cell line development team with the powerful UCOE technology and can offer the following advantages over the traditional DHFR–amplification system.

· Enables rapid production of gram quantities of antibodies and recombinant proteins

· Ensures efficient expression, independent of chromosomal integration

· Evaluated for recombinant antibodies, secreted and intracellular proteins

· Eliminates the need to screen 1,000s of clones

· Unique mechanism that prevents gene silencing through effects on chromatin structure

· Generates purified mixed clonal pool material in 10 weeks

About Cobra Biomanufacturing Plc

Cobra Biomanufacturing Plc is a leading international manufacturer of biopharmaceuticals to the lifescience industry. Founded in 1992, Cobra provides innovative manufacturing solutions to the biopharmaceutical industry covering DNA, virus, cellular therapeutics and recombinant protein products. Cobra has developed a range of unique, patented technologies, which underpin a successful revenue generating contract manufacturing business.

www.cobrabio.com

About KAHR and HBL

KAHR is a portfolio company of HBL, the publicly traded holding company of Hadasit, the technology transfer company of Hadassah Medical Organization. KAHR Medical’s drug development pipeline is built around the Trans Signal Converter Proteins (TSCP) technology, a novel drug technology licensed from the University of Pennsylvania. For more information about KAHR Medical, please visit www.kahr-medical.com. For more information about HBL, please visit www.hbl.co.il. Press contact: Marjie Hadad, media liaison, +972-54-536-5220 or marjie@netvision.net.il.