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

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
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 2,800+ scientific posters on ePosters
  • More than 4,000+ 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 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
Speeding Up the Process of Making Vaccines
System uses a freeze-dry concept to develop "just-add-water" solution.
Surprising Trait Found in Anti-HIV Antibodies
Scientists at The Scripps Research Institute (TSRI) have new weapons in the fight against HIV.
New Method Identifies Up to Twice as Many Proteins and Peptides
An international team of researchers developed a method that identifies up to twice as many proteins and peptides in mass spectrometry data than conventional approaches.
The Do’s and Don’ts of SPR Experiments
Surface Plasmon Resonance (SPR) is a technique that is becoming more widely used, particularly by anyone who wants to obtain accurate on (association) and off (dissociation) rates for biomolecular binding.
Genetically Engineering Algae to Kill Cancer Cells
New interdisciplinary research has revealed the frontline role tiny algae could play in the battle against cancer, through the innovative use of nanotechnology.
Novel Stem Cell Line Avoids Risk of Introducing Transplanted Tumors
Progenitor cells might eventually be used to repair or rebuild damaged or destroyed organs.
Single Vaccine for Chikungunya, Related Viruses May be Possible
What if a single vaccine could protect people from infection by many different viruses? That concept is a step closer to reality.
Blocking the Transmission Of Malaria Parasites
Vaccine candidate administered for the first time in humans in a phase I clinical trial led by Oxford University’s Jenner Institute, with partners Imaxio and GSK.
Molecule Proves Key to Brain Repair After Stroke
Scientists found that a molecule known as growth and differentiation factor 10 (GDF10) plays a key role in repair mechanisms following stroke.
Circadian Clock Controls Insulin and Blood Sugar in Pancreas
Map of thousands of genes suggests new therapeutic targets for diabetes.

Skyscraper Banner
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
2,800+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,000+ scientific videos