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Post by mango on Nov 27, 2016 23:40:33 GMT -5
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Post by brotherm1 on Nov 28, 2016 2:36:07 GMT -5
$50 million market cap. Al Mann thus owns about $10 million worth of shares
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Post by mango on Nov 28, 2016 3:10:00 GMT -5
$50 million market cap. Al Mann thus owns about $10 million worth of shares 10.4M How much do you think he makes from Bioness? In 2012 Teuza realized 3% of its stock in Bioness for a valuation of $230 million. How much of Bioness does Al own?
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Post by mango on Nov 28, 2016 3:14:05 GMT -5
In 2010 Teuza realized some of its holdings in Nova for valuation of over $200M, 100 times the original investment. www.teuzafund.com/track.html
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Post by mango on Nov 28, 2016 3:21:45 GMT -5
Every spinout from the AMIT a % of $ is funneled back. The AMIT was an investment to not only boost innovation, but make $.
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Post by mango on Nov 28, 2016 3:40:30 GMT -5
This article from 2011 should shed some light... • Mann also owns 25% of Teuza – A Fairchild Technology Venture Ltd. Teuza CEO Avi Kerbs, a close friend of Mann, told Globes: “AMIT and the Technion really don’t need to worry about money. If they need financing for a project that looks promising, Al gives them another one to two million [dollars]. Right, Al? See, he doesn’t even remember.” • Mann praises AMIT’s activity, where researchers and entrepreneurs work together on earlystage life-sciences projects. Founded four years ago, AMIT is already conducting human clinical trials. • “We’re constantly enthusiastic about our work,” he says. “The people there are talented and skilled.” • Mann has also set up a joint venture in Israel, Bioness Inc. with NESS – Neuromuscular Electrical Stimulation Systems Ltd. Mann controls Bioness directly and through an 8% stake held by Teuza.• I own shares in Teuza, which has a fair amount of cash for making investments. I don’t run the fund, and I don’t make decisions in it, but I’m always available for advice and assistance.” • “Bioness has $20 million in annual sales,” Mann says. “ It has extensive operations in Israel, and its manufacturing is also carried out here. It currently has 90 employees in Israel and 150 in the US.” • That’s why we’re financing Bioness on our own. I strongly believe in Bioness and predict that it can become a billion-dollar company.” m.jpost.com/Business/Business-Features/Alfred-Mann-to-double-100-million-Technion-donation#article=0NEY2OUQyMjhFMDU3MzlFNDUyMTU0RDE4QjRBMDlGOEI=
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Post by mango on Nov 28, 2016 3:51:14 GMT -5
It is this kind of thinking... • Dr. Mann explained that his drive to keep working 70 hours a week comes from the ambition to continue helping people, or as he put it: "enabling the blinds to see, the deaf to hear and the crippled to walk" • One of the students, who was impressed from the tremendous scientific achievements asked: "what do I have to do if I want to be like you when I grow up?" Mann offered her to find issues that are close to her heart and think what she can do in order to facilitate them. Prof. Shechtman offered her to choose her favorite field in science and specialize in it. • Amongst the guests were Dr. Eli Ofer, former Chief Scientist of the Ministry of Industry Trade and Labor.; mr. Shmulik Shani, former CEO at Bioness' a mutual investment of Mann and Teuza Fund and Mr. Avi Kerbes, Teuza Fund CEO. Mr. Avi Kerbes summarized this visit and said: "as an entrepreneur I value the many developments that started right here, in the Technion's Historical Building. I have no doubt that in order to continue to lead scientific advancements, we have to encourage youth to take an interest in science; hopefully, the seeds we are sowing today will yield the inventions of tomorrow". www.madatech.org.il/en/when-great-minds-meet
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