Date: 2013-12-11
Type of information: Grant
Company: BrainStorm Cell Therapeutics (USA - Israel)
Investors: Office of the Chief Scientist (OCS -Israel)
Amount: $800,000 (€ 582,114)
Funding type: grant
Planned used: The grant is intended to support BrainStorm’s clinical and product development for its innovative stem cell therapy candidate NurOwn™.
Others: * On December 11, 2013, BrainStorm Cell Therapeutics, a developer of adult stem cell technologies for neurodegenerative diseases, has announced that the company was awarded a $800,000 non-dilutive grant from Israel’s Office of the Chief Scientist (OCS) for the year 2014. The OCS has supported BrainStorm Cell Therapeutics Ltd. since 2007, providing grants of a total of approximately $3 million until today. The Company is required to pay royalties to the OCS, amounting to 3% - 3.5% of revenues derived from sales of the products funded with these grants, but only up to the amount equal to 100% of the grants received plus LIBOR interest.
Therapeutic area: Neurodegenerative diseases
