Corporate Banner
Satellite Banner
Biologics & Bioprocessing
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Medgenics Awarded $1.9 Million Grant from the Israeli Office of the Chief Scientist

Published: Wednesday, July 10, 2013
Last Updated: Wednesday, July 10, 2013
Bookmark and Share
Medgenics Medical Israel Ltd. (MMI), was awarded a government grant of up to NIS 6.7 million from the Ministry of Industry, Trade and Labor of Israel.

The grant will be used to cover R&D expenses for the 12-month period from December 2012 through November 2013 to support further research and clinical development of the Company’s proprietary tissue-based Biopump™ platform technology with respect to the treatment of anemia and hepatitis.

The OCS awards grants to companies from various industries in Israel to foster technological innovations. Recipient selections are based on multiple criteria including the uniqueness of a company's technology, and the potential market it addresses, plus the robustness of the company’s business including financial position, R&D capabilities and management experience.

Under the terms of the OCS grant, MMI will repay the grant in full, plus interest, through royalties on revenue received from commercializing the developed technology. The payment of royalties is contingent on such revenues and, in the absence of such revenues, no royalty payments to the OCS are required.

“We are delighted to have been selected to receive this non-dilutive funding from the Israeli OCS and appreciate the continued support. This is our seventh consecutive grant from the Israeli OCS. These grants have been instrumental in furthering the development of our technology and support us in advancing our clinical trials in the United States and Israel,” stated Andrew L. Pearlman, Ph.D., President and Chief Executive Officer of Medgenics.


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,200+ scientific posters on ePosters
  • More than 4,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Update On Development of Factor VIII Biopump
Agreement for the joint development of the Factor VIII Biopump expired on September 30, 2011.
Monday, October 17, 2011
Medgenics Signs Exclusive License Agreement for Key Variants of Factor VIII
Company signed an exclusive license with Regents of the University of Michigan of patent rights relating to certain uses of variants of clotting Factor VIII developed by Professor Randall Kaufman.
Monday, August 01, 2011
Medgenics Names Clarence “Butch” Dellio as Chief Operating Officer
Experienced biotech executive provides strategic management and manufacturing expertise.
Wednesday, July 06, 2011
Leading Biotechnology Entrepreneur and Investor Isaac Blech Joins Medgenics Board of Directors
Mr. Blech is a major investor in the Company having invested over $7 million in the Company over the past year.
Tuesday, June 14, 2011
Medgenics Further Expands Strategic Advisory Board
Company announces the addition of two new members to its Strategic Advisory Board -Mr. Isaac Blech and Raymond Dean Hautamaki, M.D., F.A.C.P.
Monday, February 14, 2011
Scientific News
ASMS 2016: Targeting Mass Spectrometry Tools for the Masses
The expanding application range of MS in life sciences, food, energy, and health sciences research was highlighted at this year's ASMS meeting in San Antonio, Texas.
Designing Potential AIDS Vaccine Candidates
Findings represent ‘big accomplishment’ in biomedical engineering and design.
Anthrax Proteins Might Help Treat Cancerous Tumors
Studies in mice reveal novel treatment regimen.
HIV Structure Stabilized
Findings represent ‘big accomplishment’ in biomedical engineering and design.
Anthrax Vaccine Protects Monkeys
Vaccination with the anthrax capsule—a naturally occurring component of the bacterium that causes the disease—completely protected monkeys from lethal anthrax infection, according to a recently published study.
Long-Term Culturing of Adult Stem Cells
A new procedure developed by Harvard Stem Cell Institute researchers (HSCI) at Massachusetts General Hospital (MGH) may revolutionize the culturing of adult stem cells.
Solutions for Biotherapeutic Characterization
Innovation to speed the routine.
Plant-Based Vaccine Among Front Runners In Search For New Polio Jab
A researcher from Norwich is part of a consortium that has been awarded $1.5 million to develop safer polio vaccines, using a new technique developed at the John Innes Centre.
Harnessing Helpful Microbes
Seeking to further harness microbes’ many uses, the federal government has launched the National Microbiome Initiative (NMI) to “foster the integrated study of microbiomes across different ecosystems.”
What Makes a Good Scientist?
It’s the journey, not just the destination that counts as a scientist when conducting research.
Skyscraper Banner

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,200+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!