Grants have become a major source of short term funding for many of our Sector Companies in recent months. The latest is Pluristem Therapeutics (PSTI) about which we posted recently. The company uses placental stem cells expanded in a proprietary bioreactor to address several diseases.
Pluristem has been awarded a $1.9 million government grant from the Office of the Chief Scientist (OCS) at the Ministry of Industry, Trade and Labor of Israel, as a government participation in R&D expenses for the period March 2009 to February 2010. The OCS awards grants to industry in Israel to foster technological innovations. This is the fourth consecutive year that Pluristem has received this respected grant. The funds will be designated and used by Pluristem to support the clinical trials of the allogeneic placental-derived adherent stromal cell product, termed PLX-PAD, for the treatment of critical limb ischemia (CLI), the end-stage of peripheral artery disease (PAD), as well as for other research and development activities of the Company.
Adapted from the Pluristem Therapeutics announcement.
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