Elron Electronic Industries Ltd.

08/22/2018 | Press release | Distributed by Public on 08/22/2018 12:12

Elron Announces Update on the Timing of Pocared’s FDA Trial

Translation of Immediate Report Filed by Elron on August 22, 2018 with the Israeli Securities


Tel Aviv, August 22, 2018 - Elron Electronic Industries Ltd. (TASE: ELRN) ("Elron") announces with respect to Pocared Diagnostics Ltd. ("Pocared") as follows:

Further to Sections 25.7 to 25.10 of Part I of Elron's Annual Report for 2017 published on March 22, 2018 and further to Elron's Immediate Report issued on February 20, 2018, Pocared is currently expected to commence the trial in the fourth quarter of 2018 and not as reported previously.

Pocared's above estimates are forward-looking in nature, as defined in Israel Securities Law, 5728-1968, and are based on Pocared's estimations of the potential of its development and business and the direction and strategy of Pocared as of the date of this immediate report as well as on information existing in Pocared as of the date of this immediate report. These estimates, in whole or in part, may not materialize, or may materialize in a manner materially different than expected. The principal factors that may affect this are developments in Pocared's field of operation, failure to obtain regulatory approvals to continue development, failure to meet goals, inability to realize technologies, modifications in technologies, delays or malfunctions in development or manufacture, modifications in the business plan, goals and/or strategy, or if any risk associated with the preparations for the trial and its results occurs.

Pocared is approximately 70% held by Elron (including an approximately 22% holding by RDC Rafael Development Corporation - 50.1% held by Elron).