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Pluristem nets Israel Innovation Authority grant
June 2016
SHARING OPTIONS:

HAIFA, Israel—Pluristem Therapeutics Inc. has announced that Pluristem Ltd., its wholly owned subsidiary, has received 12.7 million Israeli new shekels (approximately $3.3 million) from the Israel Innovation Authority of the Israeli Ministry of Economy & Industry. This grant will support clinical trials as well as R&D activities for 2016. Per the terms of the grant, Pluristem Ltd. is required to pay royalties of 3 to 4 percent on sales of products and services resulting from technology developed using this and other Israeli Innovation Authority grants until 100 percent of the dollar-linked grants amount plus interest is repaid.
 
“We are delighted to receive the Israeli Innovation Authority Grant this year,” commented Zami Aberman, chairman and CEO of Pluristem Therapeutics. “The continued backing of the Israeli Innovation Authority is a vote of confidence in Pluristem technology and strategy and support the execution of our plans.”

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