• Viola Private Equity

    Macrocure Ltd. Announces Second Quarter 2014 Financial Results
    PETACH TIKVA, Israel, Aug. 26, 2014 (GLOBE NEWSWIRE) -- Macrocure Ltd. (Nasdaq:MCUR), a clinical-stage biotechnology company focused on developing a novel therapeutic platform to address chronic and hard-to-heal wounds, today announced financial and operating results for the three and six months ended June 30, 2014. Recent Highlights: In June 2014, the Company held a successful meeting with the Data Safety Monitoring Board ("DSMB") regarding the ongoing pivotal Phase III clinical trial for CureXcell in the treatment of hard-to-heal Diabetic Foot Ulcers ("DFU"). The purpose of the meeting was to evaluate the ongoing DFU study for futility and safety. The outcome of the meeting was that Macrocure was advised to continue the clinical study with no modifications. This provides a positive efficacy signal and supports the consistent safety profile of CureXcell. This was the 5th meeting of the DSMB and the Company.The Company's ongoing DFU trial continues to show strong enrollment rates.In May 2014, the Company initiated patient enrollment in its Venous Leg Ulcer (VLU) trial.In August 2014, the Company completed its Initial Public Offering of 5.35 million ordinary shares, raising $47.8 million in net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses. As a result of the IPO, the outstanding number of ordinary shares of the Company, as of today, is 16.3 million shares, and on a fully diluted basis is approximately 18.7 million shares. Management Commentary "Year-to-date, we made significant progress in executing our business strategy and advancing our clinical activities for CureXcell. We significantly advanced the DFU trial, a pivotal Phase III clinical trial for CureXcell. We continued to see high patient recruitment rates and remain on track to meet our previously disclosed milestone to complete patient enrollment in the second half of 2014. Additionally, we commenced a VLU trial, also a pivotal Phase III clinical trial, for the treatment of hard-to-heal VLUs, and randomized the first patient in May 2014," stated Nissim Mashiach, President and Chief Executive Officer of Macrocure. "With the proceeds of our Initial Public Offering, we are well-positioned to fund our clinical and regulatory activities in order to seek regulatory approvals for a broad indication for the treatment of DFU and VLU in all types of chronic wounds below the knee, and build our manufacturing operations. We look forward to reporting further progress this year and remain committed to enhancing shareholder value as a publicly-traded company." Second Quarter 2014 Financial Results Research and development expenses for the second quarter of 2014 were $3.2 million, compared to $1.8 million for the second quarter of 2013. This increase was primarily due to the initiation of a second pivotal clinical trial of CureXcell. General and administrative expenses for the second quarter of 2014 were $1.2 million, compared to $600 thousand for the second quarter of 2013. This increase was primarily due to an increase in non-cash stock based compensation and increased costs associated with preparing for the Initial Public Offering. For the second quarter of 2014, the Company posted a net loss of $4.4 million, or $0.59 per share compared to a net loss of $2.4 million, or $0.32 per share in the second quarter of 2013. Six Months Ended June 30, 2014 Financial Results Research and development expenses for the six months ended June 30, 2014 were $5.9 million, compared to $3.8 million for the comparable period in 2013. This increase was primarily due to clinical trial costs associated with the increased recruitment for the DFU trial and the initiation of the VLU trial. General and administrative expenses for the six months ended June 30, 2014 were $1.8 million, compared to $800 thousand for the comparable period in 2013. This increase was primarily due to an increase in non-cash stock based compensation and increased costs associated with preparing for the Initial Public Offering. For the six months ended June 30, 2014, the Company posted a net loss of $7.8 million, or $1.05 per share, compared to a net loss of $4.3 million, or $0.57 per share for the comparable period in 2013. Balance Sheet Highlights Cash and cash equivalents were $11.2 million at June 30, 2014, compared to $19.0 million at December 31, 2013. Proceeds from the Initial Public Offering will be recorded in the third quarter of 2014. On August 5, 2014, the Company issued 5.35 million ordinary shares at a price to the public of $10.00 per share in an underwritten public offering. Net proceeds from the offering were approximately $47.8 million, after deducting underwriting discounts and commissions and estimated offering expenses. Expected Corporate Milestones Q4 2014: Mechanism of Action study completion2H 2015: Phase 3 results for DFU2H 2015: Phase 3 study interim data for VLU2H 2016: Phase 3 study completion for VLU2H 2016: Submit BLA to the FDA Financial Results Conference Call and Webcast Macrocure's management will host a conference call to discuss the financial results and provide a business update on Wednesday, August 27, 2014 at 9:00 am EDT; 6:00 am PDT; 4:00 pm Israel time. To access the live telephonic broadcast, participants should dial (877) 303-6496 (domestic/U.S.) or (315) 625-3080 (international) and provide Conference ID: 89557707. Alternatively, to access a live audio webcast of the call please visit the Investor Relations section of the Company's website at The audio webcast will continue to be available for 30 days. About Macrocure Ltd. Macrocure Ltd. is a clinical-stage biotechnology company focused on developing a novel therapeutic platform to address chronic and hard-to-heal wounds, such as diabetic foot ulcers (DFU) and venous leg ulcers (VLU). The Company's novel approach is to treat and close chronic and other hard-to-heal wounds by injecting the human body's own wound healing and regenerative components directly into the wound itself. Macrocure's lead product candidate, CureXcell, is a unique combination of living human white blood cells that have been activated to facilitate the healing process and stimulate wound closure. CureXcell addresses each phase of healing in the impaired wound, including the production of growth factors and other biochemical factors involved in fibroblast activation, cell migration and extracellular matrix production, stimulating the body's natural healing process. CureXcell is currently in two pivotal Phase III, double-blind clinical trials targeting a broad indication for the treatment of all types of wounds below the knee. For more information, please visit: Cautionary Note Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, such as statements regarding assumptions and results related to financial results forecasts, commercial results, clinical trials and regulatory authorizations. Forward-looking statements are based on Macrocure's current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, unexpected results of clinical trials, delays or denial in regulatory approval process or additional competition in the market. The forward-looking statements made herein speak only as of the date of this release and Macrocure undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
  • Viola Private Equity | 11 Aug 2014

    Cisneros Media Partners with RRsat to Expand Broadcasting Reach

    The partnership is the first for RRsat in the Latin American market, and signifies the company’s commitment to broaden local capabilities throughout the Americas  The alliance provides Cisneros Media a secure and reliable technical platform to deliver its content around the world, launch new channels and expand into new territories

    ENGLEWOOD CLIFFS, New Jersey (August 11, 2014) – RRsat Global Communications Network Ltd. (NASDAQ: RRST), a leading provider of digital media services, including content management and global distribution services to the broadcasting industry, announced today the signing of a seven year agreement with Cisneros Media, one of the largest producers of Spanish-language content in the Americas, as well as the owner and operator of Pay-TV channels in the region. RRsat will provide Cisneros Media with full playout and global distribution services of their portfolio of Pay-TV channels, which includes Venevision Plus, VmasTV and VePlusTV, for the enjoyment of the Latin American community. As business and operations expand, a new RRsat playout center will be established at the Venevision Studios. The planned playout center will be housed at Cisneros Media’s Miami studios, one of South Florida’s largest and most prominent production facilities with over 120,000 square feet, encompassing six sound stages as well as post-production and office space. “RRsat’s high standards and quality service enables us to exceed the growing necessities of our clients and the demands of our viewers for more variety of content, expanded reach, greater accessibility and viewing experience,” said Jonathan Blum, President of Cisneros Media. “They also offer us the capability of efficiently managing and maximizing the potential of our content, greatly improving our workflow.” RRsat’s Media Asset Management (MAM) system enables Cisneros Media to acquire large volumes of content in real time and automatically playout and distribute it within seconds, maximizing and optimizing the return on assets. RRsat will also have fiber connectivity to its U.S. media center in Hawley, PA and RRsat's global fiber network, providing the ability to expand into additional key global markets for the benefit of the Latin American and Hispanic communities across the globe. “This partnership with Cisneros Media demonstrates RRsat’s long term vision to strengthen our broadcasting presence within Latin America, making the region one of our leading target markets with our customers,” stated Dante Neyra, Head of Commercial Services & Development of RRsat America. “With local support and global corporate backing, we provide Cisneros Media with the most comprehensive solutions to meet viewer’s growing demand for high standard of quality.” Cosme Lopez, General Manager of Cisneros Media’s Pay-TV unit, emphasized the importance of the partnership: “This alliance is an important part of our global strategic objectives as it provides us with a solid and versatile technical operational platform. As a result, it not only enables us to deliver our programming to our clients via a secure and reliable satellite signal, but most importantly, we will have the capability to launch new channels and expand into new territories, such as Europe and Africa; and all from our own home. What’s more, it will strengthen the infrastructure of our Miami studios by adding channel generation to its vast capabilities.”

  • Viola Private Equity | 07 Aug 2014

    RRsat Expands North and Latin American Sales Team
    Additions to the sales team add depth and strength in multicultural and digital media, enabling RRsat’s global strategy to build and establish relationships within the regions. RRsat Global Communications Network Ltd. (NASDAQ: RRST), a leading provider of digital content management and global content distribution services to the broadcasting industry, announced today the expansion of its U.S. sales team with industry veterans, Rick Phelps and Dante Neyra, to strengthen its presence and capabilities within the North and Latin American markets. Bringing over 20 years of experience in sales and marketing, Phelps joins RRsat as the U.S. Director of Sales and is responsible for developing and maintaining client relationships, promoting the company’s services and overseeing the overall new business process. Phelps knowledge and know-how in playout, content management and content preparation make him an invaluable asset to RRsat. His strength in emerging digital media provides RRsat with the ability to offer a premium and tailored solution, ensuringthe highest quality of service. In his role as head of RRsat’s Commercial Services and Development for Latin America and Hispanic Markets, Neyra is responsible for managing all sales activities within the Hispanic markets in North America and Latin America. He will also oversee the business development and relationships in those regions. Neyra brings more than 15 years of international business development experience in the TV, media and entertainment industries, as well as multicultural markets across the globe. His reputation and first hand knowledge within the Hispanic market enable him to provide insight and strategic guidance to further RRsat’s growth in the emerging sector. “We are pleased to have Rick and Dante represent RRsat as we continue our expansionwithin the US and throughout the Hispanic market,” stated Ohad Har-Lev, President of RRsat America. “Their vast industry experience and professional relationships strengthen RRsat and extend benefits to our current and potential customers. We are honored to have them join our team and assist us as we strengthen our global presence.”

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Viola Group, with over $2 Billion under management, is Israel’s premier technology oriented private equity investment group.

Viola Group aims to provide long term, world-class returns by identifying and pursuing attractive investment strategies in the vibrant Israeli technology and industry market. Viola Group is comprised of focused separate independent best of class partnerships including Carmel Ventures – a top tier Venture Capital fund; Viola Credit – a leading equity-based lending fund; Viola Private Equity – technology focused growth capital and buyout fund; and Viola Partners – an exclusive investment fund mainly for private investors. Vintage - a leading Secondary Fund and FOF manager is an affiliate of the group; Each partnership operates independently while enjoying access to market and technology research and insights, global tier-one investors, superior investment opportunities, a global industrial network, and access to leading management and investment talent.The partnerships identify, partner with and actively support leading entrepreneurs and high potential, growth-oriented enterprises and investment funds.



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Viola group approaches community involvement with the same hands-on enthusiasm that it dedicates to its investment portfolio. We are privileged to take part in several worthy causes led by excellent people who care deeply for the greater community. Our financial contributions to each are further supported by the personal involvement of our entire team.

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