Hadasit Bio-Holdings

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4 portfolio companies have received government grants for over 10 M NIS in 2011

Nov. 14, 2011

Link to Hebrew PR

Hadasit Bio – Holdings Ltd. (HBL) is happy to announce that three of its portfolio companies, ProtAb , Enlivex and BioMarCare have received grant approvals from the Israeli Office of the Chief Scientist (OCS) in the Ministry of Industry, Trade and Labor.

ProtAb has received a grant approval for two projects with a total budget of 7,851,851 NIS of which one project will be 30% funded and the other will receive 60%. The project approved is for the research and development of humanized monoclonal antibody for the treatment of Rheumatoid Arthritis (RA) and inflammatory bowel disease (IBD).

Enlivex has received a grant approval for a project with a total budget of over 3 M NIS of which 60% will be funded by the OCS. The project approved is for the research and development of Apocell for the treatment of Graft Vs. Host Disease (GVHD).

BioMarCare has received a grant approval for a project with a total budget of over 1.5 M NIS of which 60% will be funded by the OCS. The project approved is for the research and development of Diagnostic kits based on PAR biomarkers for identification of cancer.

These grants are in addition to CellCure’s grant approval received in May to support the development of hESC derived, neural and RPE cell.

The total OCS funding for HBL’s portfolio companies in 2011 has totaled over 10 M NIS.

HBL believes that these grants will support the companies funding of their projects and enable them to successfully achieve their milestones.

Sincerely,

Hadasit Bio – Holdings Ltd.

 
 

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