Lockheed Martin Israel Ltd. and Yissum Research Development Company Ltd., the technology transfer company of the Hebrew University of Jerusalem, have signed an agreement to conduct joint collaborative research. The collaboration will focus on basic and applicable scientific research in areas such as quantum information sciences and material sciences, and other areas.

The value of the deal was not disclosed.

Under this agreement, Lockheed Martin will have the option to purchase exclusive license to use any invention or product resulting from joint research endeavors. This partnership is a key element in both organizations’ ongoing commitment to industrial and academic growth in Israel.

Yissum CEO Yaacov Michlin said, “The framework agreement we signed today sets the ground for a wide range of potential areas of research collaboration between the two parties. Through supporting cutting-edge, innovative research of scientists at the Hebrew University, this partnership may result in exciting commercial products.”

Lockheed Martin Israel CEO Joshua Shani said, “This is another step in Lockheed Martin Israel’s long term plans to develop additional partnerships outside the defense market and partner with the industry and academia in Israel."

Published by Globes [online], Israel business news - www.globes-online.com - on October 6, 2014

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