Biodar Acquires Karma Pharm

Biodar Acquires Karma Pharm

YAVNE, IsraelBiodar Ltd., a subsidiary of Lycored Ltd. andMahkteshim Agan Industries Ltd., acquired the activities of Karma Pharm. Biodarwill continue Karma Pharms research and development activities in drugdelivery products, while the Karma Pharm founders received $2 million and anundisclosed number of Lycored stock shares.

The combination of Karma Pharm activities and technologies, together withBiodars microencapsulation capabilities will create a synergistic effect,which we believe will lead to the creation of a world-class drug deliverycompany, said Morris Zelkha, chief executive officer of Biodar (www.biodar.com).