Stem cell co Kadimastem to receive NIS 8.5m Chief Scientist grant

The funds will be budgeted for developing treatment platforms for diabetes and neurodegenerative diseases.

Kadimastem (TASE: KDST), which develops living tissue based on stem cells for drug research and possible future use in transplants, will receive an NIS 8.5 million research budget from the Office of the Chief Scientist at the Ministry of Economy for two projects. The first project is for the discovery and development of cells for diabetes treatments, and the second project is for developing systems for discovering treatments for neurodegenerative diseases.

The funds will be granted for supporting and assisting Kadimastem in its continued innovation and development of its regenerative treatment for diabetes, and creating beta cells in the pancreas for treating and healing diabetes. In the second project the funds will develop and strengthen Kamidastem's drugs scanning platform for discovering treatment for neurodegenerative diseases such as Huntington's disease, multiple sclerosis, and amyotrophic lateral sclerosis (ALS).

Published by Globes [online], Israel business news - - on December 22, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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