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 3,300+ scientific posters on ePosters
  • More than 4,800+ 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
Flu Vaccine May Reduce Risk of Death For Type 2 Diabetes Patients
Researchers at Imperial College London have suggested that the vaccine may have substantial benefits for patients with long-term conditions.
Flu Vaccine May Reduce Death Risk of Type 2 Diabetes
New research suggests that a new flu vaccine may reduce probability of type 2 diabetes patients being hospitalised with stroke and heart failure.
Disrupting Tumour-Promotion in Humans
Researchers have modified an existing protein to represses a specific cancer-promoting ‘message’ within cells.
Protein Nanocages Could Improve Drug Design and Delivery
HHMI scientists have designed and built 10 large protein icosahedra that are similar to viral capsids that carry viral DNA.
Vaccine Strategy Targets Multiple Influenza Viruses
Scientists have identified vaccine-induced antibodies that can neutralize strains of influenza virus that infect humans.
Antibody-Based Drug for Multiple Sclerosis
New antibody-based drug paves the way for new strategies for controlling and treating multiple sclerosis.
Structure of Cold Virus Solved
Researchers have identified the structure of an elusive cold virus linked to child asthma and respiratory infections, providing the foundation for treating the virus.
'Poison Pill' Fed to Deadly Virus
Researchers have created a genetic modification within a virus (with funny name), rendering it unable to replicate, mutate or cause illness.
World First Alzheimer's Vaccine Breakthrough
Researchers have made a breakthrough discovery towards an effective vaccine for Alzheimer's by targeting associated proteins.
Immunotherapy Drug Combo Targets Cancer
Mayo Clinic researchers identify potential immunotherapy drug combination that shows therapeutic effects against advanced and metastatic cancers.
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
3,300+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,800+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!