Kitov Pharmaceuticals Holdings LTD (TASE:KTOV) agreed to acquire 56% stake in TyrNovo Ltd from Goldman Hirsh Partners Ltd. for $3.8 million in cash and stock on January 12, 2017. Kitov will pay $2 million in cash and will issue 11.3 million ordinary shares for 0.01 million TyrNovo Ltd shares. Under the terms of transaction, $1.2 million of the cash consideration and all of the consideration shares will be held in escrow. Kitov Pharmaceuticals Holdings LTD anticipates that it may acquire additional equity stakes in TyrNovo from all or part of TyrNovo's additional minority shareholders for consideration consisting of ordinary shares of Kitov Pharmaceuticals Holdings LTD in such amounts as to be agreed with the shareholders. The transaction is expected to close on January 13, 2017. Kitov Pharmaceuticals Holdings LTD (TASE:KTOV) completed the acquisition of 56% stake in TyrNovo Ltd from Goldman Hirsh Partners Ltd. January 13, 2017. Concurrent with the closing, on January 13, 2017 Goldman Hirsh Partners Ltd. resigned from its position of sole Director of TyrNovo Ltd. Simcha Rock, Kitov Pharmaceuticals Holdings LTD’s Chief Financial Officer, was appointed the sole Director of TyrNovo Ltd.