Edison, the international equity research firm, will publish research that includes financial and scientific analysis of the companies for a period of two years.
The analysis will be distributed to investors in more than 128 countries, including leading institutional investors.
Other companies joining the analysis program will be covered by Frost & Sullivan.
In total, 11 biomed and technology companies have joined TASE’s investment analysis project and they will be covered by Edison. The project operates within the framework of recommendations by the Committee to Promote Investments in Public Companies operating in the field of research and development (R & D Committee) and has activated with the first group of companies.
The first companies joining the project are:
Seven biomed companies
- Allium Medical Solutions: develops, manufactures and markets advanced minimally invasive products internationally.
- BioLight Life Sciences: an emerging global ophthalmic company focused on the discovery, development and commercialization of innovative products that address ophthalmic conditions including glaucoma, dry eye syndrome and age-related macular degeneration.
- BiondVax Pharmaceuticals: the company is developing a universal flu vaccine providing enhanced and broadened protection from seasonal and pandemic influenza.
- Collplant: a regenerative medicine company focused on developing and commercializing tissue repair products, based on human collagen.
- Intec Pharma: the company is focusing on developing drugs based on its proprietary Accordion Pill platform technology to improve the efficacy and safety of existing drugs for various indications.
- Pluristem Therapeutics: a biotechnology company using placental cells and a unique, proprietary technology platform to develop off-the-shelf cell therapies for a broad spectrum of diseases.
- RedHill Biopharma: a biopharmaceutical company primarily focused on the development and commercialization of late clinical-stage, proprietary, orally administered small molecule drugs for inflammatory and gastrointestinal diseases and cancer.
Four technology companies
- Ellomay Capital: the company invests in various projects in the renewable, clean energy and infrastructures industries in Israel and abroad.
- Foresight Autonomous: a development-stage technology company engaged in the design, development and commercialization of transportation and safety applications based on its proprietary computer vision, video motion detection and machine learning software.
- Nano Dimension: the company is developing a system for 3D printing of circuitry combined with advanced nano materials.
Pointer Telocation: a leading developer, manufacturer and operator of Mobile Resource Management (MRM) to the automotive and insurance industries, offering a set of services including fleet management and stolen vehicle recovery.
The aim of the investment analysis project is to estimate the appropriate valuation of biomed and technologies companies and improve the level of sector knowledge and understanding among investors. While almost 30% of all companies currently trading in Tel Aviv operate in the technology and biomed sectors, there is little research in these fields. The publication and wide distribution of analysis by professional research organizations is one of the most effective mechanisms to promote adequate pricing. High-quality research enhances information on the company and understanding by investors, the areas of business and the markets in which it operates.
The research will be published on the Magna and Maya websites in English, with a summary in Hebrew. Reports will be published at least four times a year, following the publication of the companies’ financial statements. Additional updates will be published if a material event occurs that requires an update to the latest research note. The first reports are expected to be published by the end of September.
Edison is an international equity research and investor access firm with a team of over 110 analysts following more than 700 stocks worldwide, with extensive experience in the biomed and tech sectors. Edison will distribute its research globally via its distribution platforms, including social networks and extensive mailing lists, and through 17 professional information distribution networks including Bloomberg and Reuters. Access for analysis will be free of charge and without restriction. Edison’s research is read by investors in 128 countries.
In order to maintain independent, unbiased and professional analysis, the participating companies have signed an agreement with TASE for a minimum period of two years. The analysis is funded by the companies covered, with the support of TASE and Chief Scientist.
In addition to Edison, the TASE has also signed an additional agreement with the research firm Frost & Sullivan, which will cover the next companies to join the programme. Frost & Sullivan employs over 1800 staff, analysts, experts and growth strategy consultants from 50 locations, including in Israel, with specific expertise in biomed, technology and industry sectors.
Hani Shitrit Bach, senior vice president and director of the economic department on the Tel Aviv Stock Exchange, said today: "I am happy that the participating companies have realised the added value of research published by international research companies. We are starting with 11 pioneer companies, whose analysis will be undertaken by Edison Investment Research. There is interest from other companies in the biomedical and technology sectors and I hope that in the coming months others will join the scheme to be covered by Frost & Sullivan. Analysis published by international firms specialising in the relevant field will offer both retail and institutional investors in the biomedical and technology sectors improved knowledge of relevant high-tech companies.
The publication and distribution of analysis in English will also grant these companies exposure to international investors seeking to invest in Israeli high-tech stocks. We hope this will promote the proper pricing of high-tech companies and increase their marketability. This collaboration is another important step in a variety of activities that the exchange has initiated to attract companies, especially in the technology sector, to Tel Aviv".
Will Manuel, director of Edison Investment Research (Israel), said: "Edison is delighted that the TASE scheme is now going live and we look forward to improving the visibility and increasing investor understanding of the technology and biomed companies that have joined so far. We are grateful to the TASE, the Israel Securities Authority (ISA) and the Ministry of Finance for their considered and long-term approach to this ambitious programme and we are confident that Edison's financially rigorous and insightful research will benefit the participant companies and investors alike".
