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Pluristem secures grant for R&D
June 2012
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HAIFA, Israel—Pluristem Ltd., a wholly owned subsidiary of Pluristem Therapeutics Inc., announced last month that it has gained approval for a $3.1-million grant from the Office of the Chief Scientist within the Israeli Ministry of Industry, Trade and Labor. The grant will cover research and development expenses from March to December 2012, and Pluristem is required to pay royalties at a rate of 3 to 5 percent on sales of products and services resulting from technology developed using all OCS grants until 100 percent of the dollar-linked grants amount plus interest are repaid.  
 
"We are pleased Pluristem's PLX cells were recognized as an innovative state-of-the art technology with a potential to create long-term sustainable competitive advantage in the cell therapy industry," said Zami Aberman, chairman and CEO of Pluristem.

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