Israeli Company CollPlant Wins First-ever Order for Biological Ink for 3-D Printing of Organs

Business in Brief | Securities investigators seek to extend restrictions on Elovitch, top Bezeq officials ■ Delek in pact to sell control of Phoenix to Bermuda-based Sirius ■ Bet Shemesh Engines CEO says Pratt & Whitney contract a game changer ■ Tel Aviv shares ended mixed, despite sharp drops in pharmaceuticals

File photo: A 3-D printer
Krisztian Bocsi/Bloomberg

Securities investigators seek to extend restrictions on Elovitch, top Bezeq officials

The Israel Securities Authority on Sunday signaled it was moving toward turning over to prosecutors the results of its investigation into Bezeq and controlling shareholder Shaul Elovitch. The ISA asked Tel Aviv Magistrates Court to extend restrictions on Elovitch as well as on his son Or Elovitch and on Bezeq CEO Stella Handler through the end of October. It also sought the same for Oren Bergman, chief financial officer at Bezeq satellite television unit Yes; Amikam Shorer, head of strategy and business development at Bezeq; and Yaron Ra’anan, a Yes executive.  The investigation, centered on Bezeq’s 2015 purchase of Elovitch’s stake in Yes, surfaced in June when ISA investigators raided Bezeq offices and placed Elovitch and other key figures under house arrest. They have since been released but are subject to other restrictions, such as being barred from leaving the country or making contact with the Bezeq board of directors. Shares of Bezeq ended unchanged at 5.19 shekels ($1.47). (Jasmin Gueta)

Delek in pact to sell control of Phoenix to Bermuda-based Sirius

In another attempt to divest Phoenix, Delek Group said on Thursday it signed an agreement to sell a 4.9% stake in the insurer to Sirius International Insurance, giving it an option to buy Delek’s remaining 47.4% holding. Bermuda-based Sirius paid 208 million shekels ($59 million) for the initial stake and agreed to pay an additional 2.3 billion shekels for the rest. It has a 60-day exclusivity period for due diligence and will submit a request for a control permit to Israel’s capital markets and insurance commissioner within 45 days, Delek said. This will be Delek’s fourth attempt at selling Phoenix, after a sale to China’s Fujian Yango Group was  called off in June. Earlier agreements to sell the unit to AmTrust Financial Services and China’s Fosun International also fell through amid regulators’ concerns about pensions and other financial assets being managed by Chinese investors. Delek shares ended up 0.55% at 671.50 shekels Sunday. (Assa Sasson)

CollPlant wins first-ever order for biological ink for 3-D printing of organs

CollPlant, an Israeli company that is developing tissue-repair products based on recombinant human collagen derived from the tobacco plant, said on Sunday it won its first-ever commercial order for biological ink. CollPlant said the unique properties of its rhCollagen makes it an ideal building block for the bioinks used in 3-D printing as well as for artificial tendons and transparent ophthalmic products. The order is worth just a few hundred thousand shekels, but the customer, which CollPlant did not name, is a major company in the emerging field of making artificial organs using 3-D printing and is in talks with the firm about strategic cooperation, CollPlant said. The company has been in talks with several foreign companies about developing 3-D printing technology for artificial organs and tissues, a market that could reach $1.8 billion by the year 2022.  Shares of CollPlant, which a week ago reached an agreement for an unnamed investor to put $5 million into the company, finished up 7.2% at 46 agorot (13 cents). (Yoram Gabison)

Bet Shemesh Engines CEO says Pratt & Whitney contract a game changer

Bet Shemesh Engines, which has experienced a period of weak results, is embarking on a new era after the U.S. aircraft-engine maker placed $530 million in orders with the Israeli company, Bet Shemesh Engines CEO Ram Drori said Thursday. “It’s a seminal event in the life of the company. Because of the contract, we can buy new machinery, expand production at Bet Shemesh and hire more employees,” he told TheMarker. “The size of an order like this will enable us to invest in new technology that will increase productivity.” The order is a follow-on order that brings Bet Shemesh Engines’ total backlog with P&W to no less than $620 million between 2018 and 2026. Most of the order is for engines used to power narrow-body engines, the fastest growing segment of the aviation market. Bet Shemesh shares ended 2.4% higher on Sunday at 74.27 shekels ($21.10). (Guy Erez)

Tel Aviv shares ended mixed, despite sharp drops in pharmaceuticals

Tel Aviv shares ended mixed on Sunday as big declines for dual-listed pharmaceutical stocks were offset by gains for smaller biomedical and technology shares. The blue chip TA-35 index edged down 0.03% to close at 1,415.10 points, while the TA-125 rose 0.2% to 1,287.15, on turnover of 526 million shekels ($149.4 million). Mylan led pharmaceutical stocks lower, dropping 3.7% to 11.50 shekels. Teva Pharmaceuticals lost 3.1% to 64.41 and Perrigo 1.7% to 308.40. But smaller biomedical stocks gained, led by a 3.1% rise for Mazor Robotics to 79.50. Frutarom led the most actives, rising 1.6% to a record 291.90. UBS raised its target prices to 320 shekels from 280 for Frutarom, which has risen 48% so far this year.  Bayside rose 1.3% to 1,603 in heavy trading. Shlomo Eliahu, the insurance magnate, raised 1.3 bilion shekels in bonds from institutional investors at an annual rate oof 3.85%. Meitav Dash said on Sunday it was in talks to buy the brokerage unit of Bank of Jerusalem. (Guy Erez)