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Brainstorm Cell Therapeutics (BCLI) receives 2nd grant of $735 K from Israel's OCS

November 30, 2015 7:23am

BCLI closed at $2.75 on Friday, up +$0.08 or +3% - award was built into the price.

Brainstorm Cell Therapeutics, has been awarded an additional grant of$735 K from Israel's Office of the Chief Scientist.

The funds will support the development NurOwn™, BrainStorm's innovative mesenchymal stem cell-based platform for treating neurodegenerative diseases. NurOwn™ is currently being investigated in a P2 clinical program in amyotrophic lateral sclerosis (ALS).

The Bottom line: This grant, the second this year, brings the total awarded by OCS to Brainstorm for 2015 activities to ~$1.8 M (~NIS7 million).

Israel's Office of the Chief Scientist (OCS) in the Ministry of Economy is charged with execution of government policy for support of industrial R&D. The goal of the OCS is to assist in the development of technology in Israel as a means of fostering economic growth, encouraging technological innovation and entrepreneurship, leveraging Israel's scientific potential, enhancing the knowledge base of industry in Israel, stimulating high value-added R&D and encouraging R&D collaboration both nationally and internationally. A variety of ongoing support programs developed and offered by the OCS play a major role in enabling Israel to be a key center for high tech entrepreneurship.

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