(NASDAQ: SVRE) Profile August

SaverOne Logo

Signed a first OEM agreement with Volvo Bus Corporation in Mexico;

4,600 systems have been ordered by customers as of March 12, 2024 (of which approximately 3,200 have been installed)

SaverOne recently secured a new customer, Bon Tour, a leading private transit companies in Israel, with a significant order of 300 Systems

SaverOne launched its first European pilot with Cemex in Spain

READ THE INVESTOR PRESENTATION HERE

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BREAKING NEWS RELEASED THIS MORNING!!

Egged Tours Broaden Installation of SaverOne System Across its Entire Bus Fleet

PUBLISHED

AUG 13, 2024 8:00AM EDT

Egged Tours will be using the SaverOne System on all 130 buses at its central hub

Petah Tikvah, Israel, Aug. 13, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced that it will install its SaverOne system to prevent cell phone distractions by bus drivers in all the buses of Egged Tour's central hub, following a successful pilot project.

The follow-on project will install the SaverOne system on 60 buses, in addition to the 70 buses already equipped with the system at Egged Tours hubs across the country. This will cover Egged Tours’ entire fleet at its central hub of 130 vehicles. SaverOne’s system will help drivers stay fully focused on driving, free from smartphone distractions, while passengers can continue to use their phones as usual.

Egged Tours is a subsidiary of Egged Transportation, Israel's largest public bus fleet with over 3,000 buses nationwide, representing significant broader sales potential for SaverOne.

Mr. Saadi Mohand Hamoudi, Vice President of Operations and Traffic at Egged Tours, commented: "The safety of our passengers and drivers is the company's top priority. We believe that the SaverOne system reduces the likelihood of our drivers being distracted even for a moment by their phones, which is known to be a major cause of road accidents."

Mr. Ori Gilboa, CEO of SaverOne, commented, “After demonstrating our system’s effectiveness at Egged Tours over the past few months, we are very pleased with this follow-on order, completing the installation across their entire central hub fleet. Egged Tours has taken a significant step towards enhancing the safety of their drivers, passengers, and other road users. We look forward to further expanding our presence within the Egged organization, as well as in other public transportation companies in Israeland globally.”

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Hello Everyone,

We have another profile that we wanted to bring to your attention immediately.

We profiled this one back in Late November at just .36.  It went on a massive run throughout December and January and just recently hit 1.22 for an incredible 200%+ run over several weeks. We saw it run again in February up to 1.49. This has been one of the biggest profiles of the past year on news letter.

Pull up SVRE immediately.

It has pulled back as of late with a lot of the small caps but may be in a position where it may have bottomed out here around these levels.

You are going to want to research it right away before the open.

Founded in 2014 with a mission to make roads safer for drivers, passengers, and pedestrians alike, SaverOne develops cellular network-based technological solutions for reducing road accidents.

Our innovative system for identifying and limiting the use of certain apps on mobile devices while operating a vehicle has already been widely adopted by dozens of companies in Israel.

SaverOne is also developing an additional system that can detect and warn the driver of VRU’s (Vulnerable Road Users and pedestrians) crossing when the driver’s field of vision is extremely limited. This system is currently in advanced stages of development.

Located in Israel, the company currently employs over 50 employees in its research and development, sales, business, operations, and support departments.

This one has traded on the NASDAQ since 2020 (TASE: SVRE Nasdaq: SVRE)

SaverOne’s product portfolio addresses two main automotive segments:

  • After-market segment: protecting existing cars, trucks, and buses; working with vehicle fleets.
  • Pre-Market OEM segment: integrating SaverOne’s Protection technology in the vehicle assembly line.

SaverOne's system is installed in vehicles to provide a solution to the problem of driver distraction, as a result of drivers using distracting applications on the mobile phone while driving, in a way that endangers their safety and the safety of their passengers. This phenomenon is considered one of the main causes of road accidents in the world. According to the US National Highway Traffic Safety Administration, the annual cost of road accidents just in the United States, stands at about $870 billion each year, excluding the costs of serious injury or death, with a quarter of those accidents estimated to be related to the use of the mobile phones while driving. SaverOne's technology specifically recognizes the driver area in the vehicle and prevents the driver from accessing distracting applications such as messaging, while allowing others (e.g. navigation), without user intervention or consent, creating a safer driving environment.

SaverOne's primary target markets include commercial and private vehicle fleets that are interested in reducing potential damages and significant cost, vehicle manufacturers that are interested in integrating safety solutions to their vehicles, and insurance and leasing companies. SaverOne initially addresses car fleets with focus on the Israeli, European and US markets, as well as other markets around the world. SaverOne believes that ultimately increased focus on monitoring and prevention of cellular distraction systems in vehicles, in particular driven by upcoming expected EU regulation, will likely have a dramatic positive impact on the demand for its systems in the future.

The Company's strategy is to provide its technology for installation to customers in the aftermarket as well as address OEM vehicle manufacturers, to install the Company's protection technologies during the vehicle manufacturing process.

How the system works

When the driver enters the vehicle, the system detects the cell phone in the driver's area and connects to the SaverOne application.

When the vehicle starts moving, SaverOne shifts the phone to safe mode, preventing the use of all distracting applications (such as text messages or email), while allowing the use of non-distracting applications (companies can pre-define which applications can be used while driving).

Other passengers in the car can use their cell phones freely. If the phone in the driver's area is not connected to the system, an alert sounds, reminding the driver to reconnect or place the phone outside the driver's area.

While in Safemode, incoming messages are not displayed on the phone. Instead, the sender receives a pre-defined automatic message, such as: "I am driving and protected by SaverOne. You are welcome to call" (the message can be customized).

The Safemode is canceled once the vehicle stops, allowing full phone use.

When the engine is turned off, the driver will see all the messages that were not displayed while driving. The Child Reminder feature is activated, reminding the driver to check the back seat.

Pilot Programs Grow

Take penetrations into new markets and customers for starters. During the year the tech company launched pilot projects in the U.S., Europe and the Gulf region. As of the end of August, more than 4,300 new systems have been ordered by customers with about 3,000 already installed.

Some of its key alliances include MOU with IVECO, the commercial vehicle brand of Iveco Group, which it inked in the summer. IVECO will integrate SaverOne's technology into their vehicles, aimed at enhancing road safety. SaverOne reports that it expects a final OEM deal to be signed between SaverOne and IVECO in the near term.

More recently, SaverOne announced a new pilot with Milan-based Systems Logistics, an Italian designer, manufacturer and provider of automated warehousing with customers in Europe, America and Asia. The company has a fleet of over 100 vehicles. The pilot is taking place on a number of vehicles from Systems Logistics’ fleet. If the pilot goes off without a hitch, Systems Logistics could add SaverOne’s technology to more vehicles in its fleet.

It marks the second recent pilot SaverOne has in Italy. SaverOne also announced that Tecne Autostrade, the engineering company of Gruppo Autostrade per l’Italia, a leading concessionary in Europe for the construction and management of toll motorways started a pilot program with SaverOne. The pilot will involve the integration of SaverOne’s Driver Distraction Prevention System (DDPS) into an initial 10 vehicles. The whole Tecne Groupfleet comprises about 3,000 vehicles, underscoring the potential strong opportunity for SaverOne. The region has been a focus area for SaverOne which also has deals with Italantin Country Partner and GVZ as well.

SaverOne Reports Full Year 2023 Results with 128% Year-over-Year Revenue Growth

Strong growth continued with 2023 revenue at NIS 2.7 million

PETAH TIKVAH, Israel, March 25, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd.(Nasdaq: SVRE, TASE: SVRE), a company developing and deploying transportation safety and advanced driver-assistance systems (ADAS) technologies and solutions, today presented its results for the full year 2023, and shared recent business updates.

Recent Highlights

  • SaverOne is successfully executing on its land-and-expand strategy by broadening initial penetrations locally to full fleets, as well as new pilots and international contract wins;
  • Signed a first OEM agreement with Volvo Bus Corporation in Mexico;
  • 4,600 systems have been ordered by customers as of March 12, 2024 (of which approximately 3,200 have been installed)

Financial Highlights

  • ~2.3X (128%) year-over-year growth in 2023 revenue to NIS 2.7 million (~$0.75 million);
  • Gross profit in 2023 of NIS 0.752 million (~$0.207 million), an increase of 107% versus NIS 0.364 million in 2022
  • Net loss of NIS 33.8 million (~$9.3 million) in 2023 versus NIS 25.0 million in 2022 with higher net loss due to higher expenses given increased business activities particularly in international regions;
  • December 31, 2023 cash and cash equivalents of NIS 17.1 million (~$4.7 million) compared with NIS 19.2 million at year-end 2022.

Management Comment

Commented Mr. Ori Gilboa, CEO of SaverOne, “We are pleased with continued solid performance in 2023, both from the financial perspective by growing revenues at more than 100%, and particularly from the strategic perspective. We are especially pleased with the broadening of our footprint amongst our existing customers, and a prime example is the growth of our relationship with Cemex, expanding our offerings into the trucks of Cemex Spain. We are also reaching new customers internationally, demonstrated by the initiation of some key pilot projects in North America, Europe and elsewhere. In particular, our first OEM penetration with Volvo Bus Corporation, a Mexican subsidiary of leading car manufacture Volvo, is a highly strategic customer win for us and we believe opens additional potential for similar such wins in the near future.”

“We continue to remain optimistic and we expect to maintain our strong momentum into 2024 and beyond,” concluded Mr. Gilboa.

Recent Developments Summary

  • In September 2023, SaverOne launched its first European pilot with Cemex in Spain, covering ten trucks in two regions. This follows a recent successful installation of SaverOne's solution across Cemex Israel's full fleet of employee vehicles and operational trucks.
  • In October 2023, SaverOne announced the win of six new customers covering 90 vehicles in the private bus fleet industry in Israel. The private bus fleet vertical, especially buses carrying school children, is key for SaverOne, representing significant growth potential internationally and has become an area of strategic focus for the Company.
  • In October 2023, SaverOne signed a distribution agreement with GVZ Company, based in Milan, specializing in the distribution of automotive components and solutions in European markets. Furthermore, SaverOne appointed Mr. Tal Yihie as its Italian Country Partner, a seasoned business development executive with over 14 years of extensive sales, marketing, and distribution expertise in Italy, in addition to having an extensive global business network.
  • In November 2023, SaverOne launched a strategically important pilot project of 10 vehicles with Tecne, the engineering company of Gruppo Autostrade per l'Italia, which is one of Europe's leading concessionaries for the construction and management of toll motorways, with a fleet of 3,000 vehicles.
  • In November 2023, SaverOne announced a new pilot with System Logistics, an Italian designer, manufacturer and provider of automated warehousing, with a fleet of over 100 vehicles.
  • In January 2024, its was announced that the SaverOne system will be installed across Strauss Group's entire fleet of over 80 food delivery trucks in Israel. Strauss Group is one of the largest food manufacturers in Israel.
  • In January 2024, it was announced that SaverOne secured a new customer, Bon Tour, a leading private transit companies in Israel, with a significant order of 300 Systems. In the coming month, 50 systems will be installed on Bon Tour's various buses and minibuses, and following that, a further 250 systems are expected to be installed. Among Bon Tour's customers are government offices, municipalities and councils, institutions and hospitals, factories, tourism bodies, as well as private customers.
  • In February 2024, SaverOne announced that Egged Tours would install 300 SaverOne Systems on all its buses. Egged Tours operates the largest tour bus fleet in Israel. It is a subsidiary of Egged Transportation, Israel's largest bus company, with over 3,000 buses operating nationally with a vast network of urban and intercity routes.
  • In February 2024, SaverOne was granted a new US patent covers aspects of SaverOne's System to prevent distraction while driving. With this new patent, SaverOne's patent portfolio comprises of 23 patents of which 10 are already granted in various jurisdictions and a further 13 additional patent applications in process. These patents are strategically filed in key markets such as the US, China, Israel, the United Kingdom, and the European Union, reflecting the company's strategic vision for global expansion.
  • In February 2024, SaverOne announced that it has launched a new pilot project in the United States with Motor Supply, Inc., a trucking company based in Columbia, South Carolina. The pilot is expected to run over a period of 12 months and, if successful, potentially expand to the rest of the fleet and any future trucks that Motor Supply may operate.
  • In March 2024, GB Tours decided to expand its installation of the SaverOne system across its full fleet of public transportation and tour buses. GB Tours is a leading Israel-based public transportation company that operates public transportation lines as well as tour buses with a fleet of about one hundred buses. This order follows the conclusion of a successful pilot of the SaverOne System on twenty of GB Tours’ buses.
  • In March 2024, SaverOne entered into an original equipment manufacturer (OEM) agreement with Volvo Bus Corporation, a subsidiary of the global automotive giant, Volvo Group. Under the OEM agreement, SaverOne's Safety Solution will be installed in new Volvo buses that are manufactured for the Mexican market. Volvo Bus customers in Mexico will be offered the SaverOne Safety Solution pre-installed, following integration into Volvo’s assembly line. In addition, the agreement also allows for a retrofit of existing buses covered under Volvo’s maintenance agreement (representing approximately 3,000 buses in the market), which will install SaverOne’s Safety Solution as an aftermarket installation.

Financial Summary for 2023

Revenues increased by 128% to NIS 2.720 million (~$0.75 million) in 2023 compared to NIS 1.193 million (~$0.329 million) for 2022. This increase was mainly the result of increased sales of the SaverOne System in Israel with new and existing customers as well as new sales with customers in international regions.

Of the revenues in 2023, 93% of revenues were from Israel while 7% of revenues were from Europe. In 2022, 100% of revenues were from Israel.

Gross profit increased by 107% to NIS 0.752 million (~$0.207 million), representing gross margin of 27.6% in 2023 compared to NIS 364 thousand (~$0.1 million), representing gross margin of 30.5%, in 2022.

Research and development expenses, net were NIS 22.9 million (~$6.3 million) in 2023 compared to NIS 21.5 million (~$5.9 million) in 2022.

Selling and marketing expenses were NIS 3.8 million (~$1.0 million) in 2023 compared to NIS 1.6 million (~$0.439 million) in 2022. The increase is attributable mainly to higher payroll and investor relations expenses, as part of the Company’s efforts to increase sales and marketing efforts.

General and administrative expenses were NIS 8.3 million (~$2.3 million) in 2023, compared to NIS 6.5 million (~$1.8 million) in 2022. The increase in these expenses was mainly due to additional costs associated with being a US listed public company.

Operating loss was NIS 34.2 million (~$9.4 million) in 2023 compared to NIS 29.2 million(~$8.1 million) in 2022, primarily due to increased operating expenses as detailed above.

Financing income, net, was NIS 0.388 million (~$0.107 million) for 2023 compared to financing income, net, of NIS 4.2 million (~$1.2 million) in 2022. The decrease is due primarily due to fluctuations in exchange rates and other effects impacting the value of financial assets and liabilities that the Company holds less interest paid.

Net loss in 2023 was NIS 33.8 million (~$9.3 million), compared to NIS 26.5 million (~$6.9 million) for 2022.

Cash and cash equivalents and short-term bank deposits as of December 31, 2023, amounted to NIS 17.1 million (~$4.7 million), compared with NIS 19.2 million (~$5.3 million) as of December 31, 2022.

The Company’s financial results are presented in accordance with IFRS as issued by the IASB.

*Unless otherwise noted, for the purposes of the presentation of financial data, all conversions from New Israeli Shekels (NIS) to U.S. dollars and from U.S. dollars to NIS were made at the rate of NIS 3.627 to $1.00, based on the representative exchange rate reported by the Bank of Israel on December 29, 2023.

Global Food Manufacturer Expands Installation of SaverOne Protection System

Follow-on order for SaverOne Systems by the Israeli subsidiary of a leading global food manufacturer represents further significant international growth potential

Petah Tikvah, Israel, July 02, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced a new order of 50 SaverOne Systems from the Israeli subsidiary of one of the world’s top food manufacturers, for installation in their employee vehicles.

This new order follows several successful trial phases and a prior order in November 2022, during which 80 employee vehicles in Israel were equipped with the SaverOne system. Feedback was reported to be very positive, noting a significant reduction in accidents among these vehicles.

Mr. Ori Gilboa, CEO of SaverOne commented, “We are very pleased with this follow-on order, especially from such a valued and strategic customer. This order underscores our product's success among the customer's employees and demonstrates the strong value they place on enhancing employee safety with our protection system. Furthermore, this order represents significant growth potential for SaverOne. We look forward to further penetration and broadening of sales within this customer’s global organization to additional subsidiaries around the world, as we have successfully demonstrated with some of our other multinational customers. This follow-on order is a testament to our ongoing success in executing our growth strategy and cementing relationships with some of the world’s leading companies.”

SaverOne Signs Milestone OEM Agreement with IVECO

SaverOne’s solution to be provided to IVECO’s customers under a SaaS model

Petah Tikvah, Israel, March 27, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd.(Nasdaq: SVRE, TASE: SVRE), a technology company that develops and sells transportation safety solutions, today announced that it has signed an OEM agreement with IVECO, the brand of Iveco Group N.V. (EXM: IVG) that designs, manufactures and markets light, medium and heavy commercial vehicles. The agreement seals the collaboration to develop a solution to prevent driver distraction from cellphone use.

The OEM agreement covers the integration of SaverOne’s safety technology within IVECO’s vehicles through their manufacturing line. Initially, throughout 2024, SaverOne’s software will be integrated within IVECO’s hardware. Future further evolutions, may include the integration of SaverOne’s mobile app with IVECO's mobile app, and SaverOne’s hardware and software within IVECO’s assembly line. The first IVECO vehicles with the integrated SaverOne software solution are expected to be delivered this year.

IVECO and SaverOne will also collaborate within their service centers to offer comprehensive support for drivers that use this technology.

SaverOne’s solution will be provided to IVECO’s customers under a software-as-a-service model. It will be included in IVECO’s services portfolio and will be delivered to customers under IVECO’s commercial responsibility. Technical development and integration will be delivered by SaverOne.

Fabrizio Conicella, Head of Digital and Advanced Technology, Iveco Group, commented, “We are delighted to enter into this partnership with SaverOne, a collaboration that underscores Iveco Group’s dedication to leading the way in transportation safety and innovation. Integrating the SaverOne technology into our trucks advances our efforts to provide our customers with not only the most reliable and efficient vehicles on the market, but also the safest.”

Ori Gilboa, CEO of SaverOne, stated, "We are thrilled to sign this milestone OEM agreement with IVECO, a leading European vehicle manufacturer. We believe that this agreement represents a very significant strategic move that strongly expands our footprint in European markets. It works to integrate our advanced driver safety solution into IVECO's manufacturing line, which allows us to directly tap into the IVECO global customer base. We look forward to a fruitful collaboration with IVECO and are excited about the positive impact our joint efforts will have on making roads safer for everyone."

About IVECOIVECO is the brand of Iveco Group N.V. (EXM: IVG) that designs, manufactures and markets a wide range of light, medium and heavy commercial vehicles, off-road trucks and vehicles suitable for any body type.

It constantly innovates and extends its product portfolio to provide every customer with the vehicle that matches their mission precisely. Its full-line offer is designed around the Driver’s needs to deliver an excellent experience with a focus on safety and comfort. A wide range of advanced digital, connectivity-enabled services developed to help fleet owners run their fleet efficiently enhance IVECO’s complete transport solution. IVECO pursues its decarbonisation strategy through a multi-energy approach that includes the further development of bio-methane, battery electric and fuel cell technologies.

IVECO operates 7 manufacturing plants and 8 research and development centres. It counts on 3,500 sales and service points in over 160 countries, which guarantee technical support wherever an IVECO vehicle is at work.

IVECO drives the road of change by powering the transformation of the transport industry, propelled by the ambition to be the most reliable partner and full-line player for its customers.

Global Food Manufacturer Adopts SaverOne System for Supply Chain Truck Protection

New order for SaverOne Systems by the Israeli subsidiary of a leading global food manufacturer with strong international growth potential

Petah Tikvah, Israel, July 31, 2024 (GLOBE NEWSWIRE) --  SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced the successful completion of a pilot of SaverOne Systems’ on the customer’s trucks, an integral part of their supply chain in Israel. The customer subsequently ordered the SaverOne System, which will be installed on 46 trucks.

The customer is the Israeli subsidiary of one of the world’s top food manufacturers and recently signed a contract with SaverOne to install SaverOne systems across their full fleet of employee vehicles in Israel.

Mr. Ori Gilboa, CEO of SaverOne commented, “We are pleased that our pilot installation in which the customer tested every aspect of the system has led to this key order. This new order validates our growth strategy of cementing relationships with some of the world’s leading companies. The customer’s supply chain will be better protected from disruption due to accidents caused by driver distraction. Most importantly there remains strong international growth potential for SaverOne with this customer. We aim to further penetrate the customer’s global organization bringing our solution to the trucks of their additional subsidiaries throughout the world.”

About SaverOne’s SystemsSaverOne’s system is installed in vehicles to provide a solution to the problem of driver distraction, as a result of drivers using distracting applications on the mobile phone while driving, in a way that endangers their safety, the safety of their passengers and others on the road. This phenomenon is considered one of the main causes of road accidents in the world. According to the US National Highway Traffic Safety Administration, the annual cost of road accidents just in the United States, stands at about $870 billion each year, excluding the costs of serious injury or death, with a quarter of those accidents estimated to be related to the use of the mobile phones while driving. SaverOne's technology specifically recognizes the driver area in the vehicle and prevents the driver from accessing distracting applications such as messaging, while allowing others (e.g. navigation, calls), without user intervention or consent, creating a safer driving environment.

SaverOne’s primary target markets include commercial and private vehicle fleets, including public transportation and buses, that are interested in reducing potential damages and significant cost, vehicle manufacturers that are interested in integrating safety solutions to their vehicles, and insurance and leasing companies. SaverOne initially addresses car fleets with focus on the Israeli, European and US markets, as well as other markets around the world. SaverOne believes that ultimately increased focus on monitoring and prevention of cellular distraction systems in vehicles, in particular driven by upcoming expected EU regulation, will likely have a dramatic positive impact on the demand for its systems in the future.

The Company’s strategy is to provide its technology for installation to customers in the aftermarket as well as address OEM vehicle manufacturers, to install the Company's protection technologies during the vehicle manufacturing process.

SaverOne has developed a Vulnerable Road User (VRU) solution with the potential to significantly enhance the performance of Advanced Driver Assistance System (ADAS) sensors through a superior ability to deal with NLoS (non-line of sight) situations as well as adverse weather conditions and low-visibility. SaverOne’s technology identifies the exact location and direction of movement of the VRU via their RF footprint from their cellphone signal. This safety solution enables the avoidance of a collision by early detection VRUs such as pedestrians or cyclists in the vicinity of the vehicle.

NEWS

MANAGEMENT  

Jacob Tennenbaum

Jacob Tennenbaum

Chairman

Jacob has decades of experience in management, entrepreneurship and investments, high-tech and venture capital.  He leads a large number of start-ups towards financial success.

Uri Gilboa

Ori Gilboa

CEO

Ori has extensive experience in managing companies with large volumes of activity in the automotive and retail industry. He served, among others, as the CEO of the Meir Group’s automotive division, the CEO of James Richardson, and the CEO of the Negev Group and more.

Yossi Cohen

Yossi Cohen

Founder and COO

Yossi brings more than 25 years of experience in the telecommunications and automotive industries. Combining in-depth business, operations and technical knowledge. Yossi has led global business, operational and technology activities over the past two decades.

Omri Hagai

Omri Hagai

CFO

Over 10 years of experience in the financial management of public companies.

Prior to SaverOne, Omri served as Director of Finance  for BrainsWay & Disclosure and Reporting Controller of Israel Chemicals.

Aviram Meidan

Aviram Meidan

VP of R&D

Aviram has technological experience in communications and in the interface with the automotive industry. He has over 20 years of experience in developing multidisciplinary systems and managing development groups.

Israel Eybi

Chief Marketing and Sales Officer

Over 25 years of experience in marketing, sales and business strategies.

Israel brings many years of key relevant and solid experience in the cellular IoT-automotive segments.

Prior to SaverOne, Israel served as Chief Customer Officer at the Bezeq Group, as well as Chief Customer Officer at Pelephone.

Sincerely,

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