The firm will continue its stem cell research, and not be limited to a specific disease.
Cell Cure Neurosciences Ltd has completed a $3 million funding round. The Jerusalem-based start-up is 34% owned by Hadasit Bio Holdings Ltd. (TASE:HDST). Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) invested $1 million in the round, as had been previously reported.
In light of the funding, Cell Cure's controlling stakeholder, Singapore-based ES Cell International, will keep the firms' complete jointly-licensed technology in stem cells, and not limit it to Parkinson's disease alone.
Cell Cure develops treatments based on embryonic stem cells for Parkinson’s and other neurodegenerative diseases. The firm hopes to enter human clinical trials in 2009.
Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2007
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