For personal use only - Australian Securities Exchange

For personal use only
27 January 2015
Dr. Goldwasser brings a wealth of medical expertise and a deep
understanding of medical device development
Extensive expertise in founding and establishing a number of
medical device companies with successful exits to private
companies and public exchanges
Appointment strengthens an already strong and experienced
Opens up significant opportunities to drive growth and expansion
in a US$100B industry
Strategically positions PhytoTech to become a key player in the
global Medical Grade Cannabis market
For personal use only
Phytotech Medical Limited (ASX:PYL), the Australian owned Medical
Cannabis (MC) company and the first MC company to list on the ASX, is
pleased to announce the appointment of Dr. Benad Goldwasser as a
Non-Executive Director to its Board of Directors.
Dr. Benad Goldwasser joins PhytoTech Medical at a critical phase in its
growth cycle. He brings considerable experience working in the medical
industry, as both a practitioner and in company directorship roles.
Dr. Benad Goldwasser is a well-known MD and serial entrepreneur in
Israel. He has founded or co-founded at least nine companies which
were later acquired by strategic companies or became public companies
on the NASDAQ.
He received his medical degree from Tel-Aviv University in 1975. After
service in the Israeli Defense Forces, he began his residency in Urology
in 1978 and finished it at the Chaim Sheba Medical Center, Tel
Hashomer in 1984.
Between 1984-1986, he spent a year at Duke University Medical Center,
Durham North Carolina as a post-graduate fellow and an additional year
at the Mayo Clinic, Rochester, Minnesota, again as a post-graduate
fellow. On returning to Israel, he was appointed Chairman of Urology at
the Chaim Sheba Medical Center and Professor of Surgery at Tel Aviv
University. In 1997, he received an MBA degree from Tel-Aviv University.
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During his medical and academic career, Dr Goldwasser was the author
or co-author of over 120 original articles published in peer-reviewed
journals and 19 book chapters in books published in the field of Urology,
and was co-editor of two books published in the field of reconstructive
urology. During the period from 1993 through 1996 Benad founded or
co-founded a number of companies, including Vidamed Inc., (acquired
by Medtronic after going public on NASDAQ), Medinol Ltd., (partnered
with Boston Scientific for marketing and sales of its coronary stents).
RITA Medical (public on NASDAQ) and Optonol (acquired by Alcon), He
was a seed investor in Medcon Ltd. (acquired by McKesson Corp after
going public on the Tel Aviv Stock Exchange) a company in medical IT
that went public on the Israel Stock Exchange and was later acquired by
McKesson Corp.
In 1997, Dr Benad Goldwasser retired from the practice of medicine and
became Managing Director of Biomedical Investments Ltd., an Israeli
Venture Capital company. In 2003, Benad co-founded GI View Ltd., and
served as its CEO until April 2008 and in 2013, Benad became an
independent director at BioCancell Ltd., a publicly trading company on
TASE. And 2014, Benad became active chairman of the board of
directors of Leadexx Ltd. a start-up company in the field of cardiology.
Wall, Chairman of PhytoTech Limited commented: “We’re
delighted to announce the appointment of Benad to our board of
directors. He joins what we believe to be highly qualified and credible
board. His experience in the medical device development industry adds
invaluable expertise to our Company and the advice he can offer from
his experience in medical industry roles will be instrumental in
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implementing our strategy for the development of world class MGC
delivery systems which will be licensed to major global pharmaceutical
companies for mainstream pharmaceutical distribution.”
Dr Benad Goldwasser will be paid director’s fees and a daily rate fee for
specific consultancy services.
In addition, subject to the receipt of
shareholder approval, Dr Benad Goldwasser will be issued 1,500,000
unquoted options to acquire fully paid ordinary shares in the capital of
PYL exercisable at $0.20 each (Options). The Options shall vest over a
period of 3 years, such that 1/12 of the Options shall vest on the end of
each three (3) months period following his appointment.
-EndsFor more information please contact
Boaz Wachtel, Managing Director
+61 8 6489 1600
[email protected]
For media enquiries
Media & Capital Partners
Asher Moses, Associate Director
+61 438 008 616
[email protected]
About PhytoTech Medical Limited
For personal use only
Phytotech Medical is a medical cannabis company, which aims to
commercialize Medical Grade Cannabis (MGC) and high potential
international market with regulated medical cannabis laws. With research
facilities located in Israel, a global leader in medical cannabis research,
the Company is strategically positioned to become a key player in the
global MGC market.
commercialization of products for administering MGC, and on new
treatments utilizing MGC therapeutic components for various medical
conditions. In addition, the Company aims to grow proprietary strains of
MGC in California, Uruguay and other jurisdictions.
Phytotech has entered into an exclusive research and licensing
agreement with Yissum, the prestigious Research Development and
technology transfer Company of Hebrew University in Jerusalem, Israel.
Yissum was founded in 1964 to protect and to commercialize the
Hebrew University’s intellectual property.
Products based on Hebrew
University technologies that have been commercialised by Yissum
currently generate US$2 Billion in annual sales. Ranked among the top
technology transfer companies in the world, Yissum has registered over
technologies and has spun out 90 companies. Yissum’s partners span
the globe and include names such as Microsoft, Johnson & Johnson,
Syngenta, Monsanto, Roche, Novartis, Merck, Teva and many more.
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Using proprietary technology, Phytotech’s vision is to administer ground
breaking health benefits of cannabinoids in oral preparations, vapor
form, and other routes of administration in safe and effective ways.