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Pluristem wins $3.1m research grant from Israeli government

PBR Staff Writer Published 01 May 2012

The Office of the Chief Scientist (OCS) within the Israeli Ministry of Industry, Trade and Labor has announced approximately $3.1m grant to Pluristem, a wholly owned subsidiary of Pluristem Therapeutics.

The grant will be used to cover R&D expenses for the period March to December 2012, the company said.

Pluristem chairman and CEO Zami Aberman said, "This grant will assist the company in enhancing its R&D plans and clinical trials, helping us bring the PLX product candidates to market for the treatment of millions of patients around the world."

Under the OCS grant terms, Pluristem should pay royalties in the rate of 3% - 5% on sales of products and services derived from technology developed using this and other OCS grants until 100% of the dollar-linked grants amount plus interest are repaid.

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