Chief Scientist funds Parkinson's, cancer treatment start-ups

Brainstorm Cell Therapeutics and BiolineRX obtained funding.

The Office of the Chief Scientist has allocated NIS 12 million for biotechnology and software new projects.

Brainstorm Cell Therapeutics Ltd. (Bulletin Board:BCLI) received up to NIS 2.9 million for its 2008 work program, which includes development of a new treatment, based on adult stem cells, for the treatment of neurodegenerative diseases such as Amyotrophic Lateral Sclerosis (ALS, or Lou Gehrig's disease) and Parkinson's disease.

Jerusalem-based incubator BiolineRX Ltd. (TASE:BLRX) obtained funding for three projects: development of a molecule for the treatment of malignant tumors; development of a small molecule designed to kill cancer cells; and development of a protein that prevents acute renal failure.

Sde Boker incubator Iris Ventures obtained a grant to develop a software solution to improve the quality of pictures taken by cellular telephones.

Published by Globes [online], Israel business news - www.globes-online.com - on June 19, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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