Pluristem gets $1.6M grant from Israel's OCS

Israel's Pluristem Therapeutics, a bio-therapeutics company dedicated to the commercialization of non-personalized, off-the-shelf, cell therapy products for a variety of degenerative, ischemic and autoimmune indications, has received a $1.6-million grant from the Office of Israel's Chief Scientist (OCS).

The grant is part of the government's Ministry of Trade and Industry Program to support innovative technologies in Israel and represents a 100% increase on the previous year. The funds will be designated to support clinical, as well as R&D activities.

"Pluristem plans to submit an application for a new grant to the OCS in March 2009 to cover our Phase I trial of PLX-PAD and our preclinical studies of PLX-IBD, targeting inflammatory bowel disease," said chief executive Zami Aberman. "Additionally, Pluristem has formed a multidisciplinary consortium that includes 13 companies and research centers in Germany, France, Switzerland and Israel to support additional clinical trials via grant applications totaling approximately $13.0 million," he added.